Football

Stay of execution for Shrimpers

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Southend have avoided a winding-up order but could fall into administration next week.

The League One club were due in the High Court on Wednesday over a tax bill of £690,000, but HM Revenue and Customs have now postponed a hearing until next week.

"The club were advised that HMRC have changed their position and are now seeking an administration. As such HMRC are postponing the hearing to allow the administration to be considered on Wednesday, November 4 - a one-week delay," said chairman Ron Martin.

"This is not a viability issue, for the financial planning is very sound, but we have needed time to overcome the banks' inability to lend since their collapse in the summer of 2008.

"Prior to this everything was on track and it has taken the year to get back to our advanced position.

"Therefore HMRC's hostile action is not only unwelcome but also destructive.

"We are not looking to escape any debts (indeed we wish to ensure we pay in full) and will be able to, given a further short respite, settle the indebtedness."

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Topics:
Football
League One
Southend United

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