Bolton Wanderers settle tax debts after takeover

Bolton Wanderers settle tax debts after takeover

Bolton Wanderers' bosses say tax debts have been settled in the wake of a takeover.

Inland Revenue officials wanted struggling Bolton wound up after complaining that the Sky Bet Championship club owed more than £2m.

But a specialist judge dismissed a winding up petition at a High Court hearing in London on Monday.

Lawyers told Registrar Clive Jones that the debt had been paid in full.

A Bolton spokesman added after the hearing: "Following completion of the takeover deal, the club have now fulfilled all overdue outstanding payments to HMRC."

Earlier this year, the judge had given Bolton more time to pay after being told of plans to raise cash.

Club officials subsequently announced that a consortium fronted by former club striker Dean Holdsworth had taken control.

Bosses parted company with manager Neil Lennon shortly after Holdsworth's consortium took control.

Jimmy Phillips has been put in interim charge.

Bolton, bottom of the Championship table, slipped nearer to  relegation on Saturday after losing 6-0 at Bristol City.