Bolton escape bankruptcy protection

English Championship outfit Bolton Wanderers have avoided bankruptcy protection after creditors accepted a late offer of a loan repayment.

Magennis

Josh Magennis (R) celebrates a goal for Bolton Wanderers Source: Getty Images

Bolton chairman Ken Anderson had warned on Tuesday (AEST) that the club were facing the prospect of insolvency and a points penalty after an initial offer to repay the financial company was turned down.

However, Anderson confirmed an agreement was reached and the club now has one of the lowest debt positions in the second division.

"Following on from all the speculation, I am pleased to confirm that the loan from BluMarble Capital Ltd has been repaid," Anderson told the club's official website.

"I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.

"I believe the club now has one of the lowest debt positions in the Championship. I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications."

Bolton, who narrowly avoided relegation from the second-tier last season, have made a good start to the new campaign and are eighth in the standings with 11 points from six matches.

Share
Watch the FIFA World Cup 2026™, Tour de France, Tour de France Femmes, Giro d’Italia, Vuelta a España, Dakar Rally, World Athletics / ISU Championships (and more) via SBS On Demand – your free live streaming and catch-up service. Read more about Sport
Have a story or comment? Contact Us

Watch the FIFA World Cup 2026™, Tour de France, Tour de France Femmes, Giro d’Italia, Vuelta a España, Dakar Rally, World Athletics / ISU Championships (and more) via SBS On Demand – your free live streaming and catch-up service.
Watch nowOn Demand
Follow SBS Sport
2 min read
Published 13 September 2018 6:56am
Source: Reuters

Share this with family and friends