HMRC have once again filed a winding up petition against Southend United Football Club for unpaid taxes.
This petition is the fifth time in four years that the club has received a winding up petition and now has until 18th march 2013 to settle its debts or reach an agreement with HMRC.
Southend United currently stand just outside the play off places in League 2 of the football league. However if the club was to be placed into administration then a points deduction would almost certainly be put into place.
Insolvency News, have reported that upon contacting the club they have confirmed that they will not be issuing a statement on the matter. However club Chairman Ron Martin indicated to BBC Essex that the unpaid taxes would be dealt with in the normal order of business”.
These impending proceedings mirror those of two years ago when the club managed to keep administration at bay by reaching an agreement with its creditors. It is hoped that once again the club will be able to reach a similar agreement.
Another factor adding to the financial worries of the club is the recent deference of the planning application for the new stadium to be built at Fossetts Farm in conjunction with Sainsbury’s Supermarkets.
Construction of the new stadium has been scheduled for Spring of this year, with a view to the club moving into the first phase of the new stadium for the start of the 2014 season.