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Bolton Wanderers FC enters administration

Administrators Paul Appleton and Asher Miller from David Rubin & Partners have been appointed to relegated Championship football club Bolton Wanderers FC.

Both appointments were made following the notices of intention to appoint administrators filed by Fildraw Limited last week, which followed the presentation of a winding-up petition by HMRC.

 

Fildraw Limited is a company through which the trust representing the family of the late benefactor Eddie Davies lent substantial sums to the club.

 

HMRC brought the petition after Bolton failed to pay a £1.2m tax bill.

 

The club will play in League One next season after it was relegated from the Championship this term. Appointing administrators means the team will start next season with a 12-point deduction.

 

The team’s match against Brentford on April 27 was postponed after the first-team squad went on strike over unpaid wages from March and April. Brentford was subsequently awarded a victory.

 

A takeover bid was made for the club by former Watford FC owner Laurence Bassini, but that deal is now off after he failed to provide proof of funds for the transaction.

 

Appleton said: "This has obviously been a long-running situation and it is vitally important that we quickly establish the position of both the football club and the holding company.

 

"It has got to the stage where the trust could not sit back and allow the club to go into liquidation. Decisive action had to be taken and the trust believes the decision is in the best interests of Bolton Wanderers."

 

"Everybody at the club as well as the supporters need a sense of clarity and that is what I will be seeking to provide as quickly as possible."

 

Bolton is the first English Football League side to go into administration since Aldershot Town in 2013.

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