Ilkeston Town wound up in the High Court
TIME finally ran out for Blue Square Bet North side Ilkeston Town today in their battle with the tax man over massive debts.
In July the club warded off moves by Her Majesty's Revenue and Customs to wind the club up and they were given a further six weeks breathing space to pay the taxman the 50,000 they owe.
But today, despite a request for further breathing space the club was wound up. Mrs Registrar Derrett apologised, but refused to allow further time despite being told that the club was selling one of its players for 20,000 and was offering to pay off the bill at 1,000 a month.
Today's was the third time the case had been back to court. Prior to the July grant of extra time to try and meet its debts it had also been given a month's breathing space at an earlier hearing.
Now the affairs will be handed over to an Official Receiver.
His job would then be to do his best to ensure that debts are paid off by selling any assets available and then bringing business to a close.
The news came after chairman Gary Hodder had put the club up for sale earlier in the week and opened talks with businessmen keen to stage a rescue.
The legal action arose from 47,000 unpaid tax from two years ago, when the club was owned by the family of Nottingham builder Chek Whyte.
Mr Hodder, who took over Ilkeston in March, said talks were underway with two possible buyers.
He said he had always been convinced the club would not go into administration, a move which would lead to the docking of ten points under FA rules.
Before the court hearing, he said: "We will go with complete optimism. There is no advice being given which is contrary to that belief.
"The club is up for sale and I have been speaking to two investors. They are potential purchasers of the club."
Officials had been hoping the case would be adjourned for the third time so talks could continue to protect the club's position in the division.
Manager Kevin Wilson said the players' budget is 3,000, one of the lowest in the division. He also said the club had lost 2 million in a decade.
"There will be a challenge at this football club but we will meet that challenge. With my staff, I am looking forward," said Wilson, who is working under an FA embargo which allows him to have only 16 players.
Club officials spoke to Dennis Strudwick, general manager of the Football Conference, who attended Saturday's match with Eastwood.
He said later: "We endeavour to assist any club but it is not just football, the economic climate is difficult for anyone. We all love football and we have got to get through it.
"It is very hard and a lot of clubs are feeling a revenue debt. Clubs are having trouble in paying their bills.
"But we feel it is right for clubs to pay their bills. Insolvency procedures are stronger in the Conference than in the Football League and we feel they should pay their bills.
"A solicitor at another club recently told me 'you are disadvantaging our club with your embargo.' But my answer was 'you are disadvantaging other clubs because they are trying to pay their bills,'" said Mr Strudwick.
More news and reaction to follow.
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Weather for Ilkeston
Friday 25 May 2012
Today
Sunny
Temperature: 11 C to 24 C
Wind Speed: 17 mph
Wind direction: East
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Sunny
Temperature: 11 C to 22 C
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