Finance

Bolton Wanderers settle debts two years after being rescued from administration

Bolton Wanderers have settled their debts with the unsecured creditors who were owed money when the club were bought out of administration two years ago.

The League One side were snapped up by Football Ventures (Whites) Ltd after they entered administration in March 2019 due to a £1.2m unpaid tax bill.

In a message to supporters, chairman Sharon Brittan paid tributes to the efforts of the EFL, Jason Elliott of Cowgill’s, Paul Appleton of Begbies Traynor Group and the club’s former chief operating officer Andrew Gartside.

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A club statement read: “Bolton Wanderers FC is delighted to confirm that it has now met its obligations and agreed settlement arrangements with its unsecured creditors pertaining to Football Ventures (Whites) Ltd acquiring the club from the administrators two years ago.

“From the outset, the process has been led by chairman Sharon Brittan and it now allows the club to focus on an exciting future ahead.”

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Mrs Brittan said: “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.

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“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.

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“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.”

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