New creditor emerges in Notts County administration

Liquidation

Bankrupted League Two side Notts Country are facing more financial concerns after a new creditor claiming £650,000 has emerged.

The football club had recently finished court proceedings after HM Revenue & Customs (HMRC) brought a winding-up petition against the team over an unpaid tax debt.

But the new claim is likely to scupper the work already carried out to resolve the club’s financial problems, perhaps resulting in a further winding-up petition.

The club’s owner, Alan Hardy, said his advisors are trying to agree on a settlement with the administrators of Pinnacle Advantage, the new creditor.

“We were aware of this debt and my advisors are in close negotiations with Pinnacle to arrange a settlement,” said Mr Hardy.

“It hasn’t been dropped on us – it’s all been part of a long-running process.

“Conversations are ongoing with the liquidators/administrators.”

Last year, a Judge gave Notts County until 27 March 2017 to pay a tax bill thought to be in excess of £90,000.

HMRC claim that the amount owed by the ladies division of the club had been outstanding for two years with no attempt to repay the bill in nearly a year, prompting the winding-up petition.

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