Bolton Reach Agreement With Unsecured Creditors

  • September 03, 2021 | By Chris Mann
  • URL Short URL: http://b-ac.es/39376

Football Ventures (Whites) Limited have confirmed they have reached an agreement with unsecured creditors they inherited during their takeover of Bolton Wanderers.

Having fulfilled conditions imposed upon them by the EFL in 2019 - ones which state clubs coming out of administration must agree to pay a minimum of 25 pence in every pound owed within two years of a takeover - Wanderers will therefore avoid any further points deductions or embargoes.

In an official statement, posted at bwfc.co.uk, Wanderers chairman Sharon Brittan thanked all stakeholders for their time and patience during what she described as a 'challenging' 24 months.

"After a very challenging two years we are absolutely delighted to confirm that the Club has reached agreement with its unsecured creditors.

"This ensures that we have met our obligations, satisfied the EFL requirements and are therefore free of any embargoes and penalties.

"I would like to thank our amazing colleagues who have worked tirelessly throughout this process over the past two years and also the creditors whose patience and understanding have not only been helpful but truly appreciated.

"I'd also like to place on record our gratitude to the EFL, Jason Elliott of Cowgill's, Paul Appleton of Begbies Traynor Group and our former COO Andrew Gartside.

"As custodians of Bolton Wanderers the future now looks extremely bright and we can now continue delivering a high performance but sustainable football club led by the Board, our Manager Ian Evatt, CEO Neil Hart and our talented and hard-working colleagues."

Sky Bet League One Standings

Pos Team Pld Pts
7 Plymouth Argyle 46 80
8 Oxford United 46 76
9 Bolton Wanderers 46 73
10 Portsmouth 46 73
11 Ipswich Town 46 70
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