TomandJerry
Well-known member
- Oct 1, 2013
- 12,323
Southend United could go out of business later this month after prospective buyers expressed "urgent" concerns about their protracted takeover attempts.
A winding-up petition, which was adjourned for the final time in May, is set to be heard in the High Court on 26 June.
The consortium, led by Australian businessman Justin Rees, says a property element of the contract which has caused the takeover of the National League side to stall now "seems certain" not to be signed ahead of the court date.
Even if a compromise is reached, it seems certain that the revised property contract will not be signed prior to the 26 June winding up hearing for the club in the High Court."
He was also critical of the council’s previous administration and added elements of the proposal as previously negotiated and assurances given "fell outside of normal practice and were simply not achievable".
A winding-up petition, which was adjourned for the final time in May, is set to be heard in the High Court on 26 June.
The consortium, led by Australian businessman Justin Rees, says a property element of the contract which has caused the takeover of the National League side to stall now "seems certain" not to be signed ahead of the court date.
Even if a compromise is reached, it seems certain that the revised property contract will not be signed prior to the 26 June winding up hearing for the club in the High Court."
He was also critical of the council’s previous administration and added elements of the proposal as previously negotiated and assurances given "fell outside of normal practice and were simply not achievable".