Oldham Athletic’s winding-up petition has been dismissed by the High Court. This comes following talks of the League Two side entering administration.
Oldham Athletic’s Winding-Up Petition Concludes
Case Dismissed
Their debt owed to HM Revenue & Customs has been cleared. They have paid their outstanding tax bill, it was announced in a virtual hearing on Wednesday.
It was not specified to the Insolvency and Companies Court at the hearing how much was owed.
However, it was reported in March that the club had debts of over £600,000 to Boundary Park landlords, Brassbank. Oldham Athletic admitted they had not paid rent and under the terms of their loan, it was appropriate for Brassbank to appoint an administrator.
At this time, they also informed their staff that they would be paid a week late.
Troubling Times For EFL Clubs
The League Two club has just closed its second winding-up order in six months. In December a judge ruled against a similar petition.
In June, the Latics avoided going into administration after repaying the money to two former owners – including landlord, Simon Blitz. Therefore, they avoided court and a 12 point deduction. They will not be following in the footsteps of Wigan Athletic.
Going into administration would have seen the Latics relegated from the Football League for the first time since their acceptance in 1907.
Through their financial struggles, the Latics have had to release many of their players after finishing 18th in League Two. The board has stressed that the future is currently uncertain for the club.
A statement on the official club website said: “In the existing climate, planning for the future is clearly very difficult. Maintaining financial security remains the primary aim”.
It was reported that Oldham’s winding-up and administration proceedings have now come to an end.
Two weeks ago, division rivals Macclesfield Town, were given more time to clear debts following a winding-up bid by tax officials. This case will be reconsidered on September 9.
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