Leyton Orient avoid winding-up order

[mrbojangles]

I didn't realise LO where in such a bad state. Hate seeing the smaller clubs struggle like this, particularly those who have been around for as long as LO 

 

Leyton Orient avoid winding-up order after paying tax debt in full

 

The future of Leyton Orient is safe for now after telling the Royal Courts of Justice they had paid their tax debt in full.

 

The League Two side was at threat of being placed in administration and then going into liquidation after HM Revenue & Customs had applied for a winding-up order because of an unpaid tax bill, believed to be £250,000.

 

EFL rules mean a 12-point deduction for any club in administration.

 

The league's governing body said last week that the club had assured them that funds were in place to clear the debt and on Monday the court was informed the bill had been settled.

 

The court was told there are also four other creditors, with the barrister of owner Francesco Becchetti saying their client would put £1m into the club within eight to 10 weeks to clear all debts.

 

The owner has been given until June 12 to clear all the debts.

 

Full Story:- http://www.skysports.com/football/news/11742/10808693/leyton-orient-avoid-winding-up-order-after-paying-tax-debt-in-full

[oxo1947]

 

5 minutes ago, mrbojangles said:

I didn't realise LO where in such a bad state. Hate seeing the smaller clubs struggle like this, particularly those who have been around for as long as LO 

Yes its a shame---as a Kid who used to stand in the mud at Southend week after week, to now watch 20 teams paid  over €2.2 billion per year in domestic and international television rights alone, and the other and the other 72 clubs struggle to pick up whatever crumbs they can.

[smokie36]

Wet Spam should hold their heads in shame.

[champers]

Barry Hearn sold the club to these clowns, so must bear some responsibility. They were well into a death spiral before West Ham moved to their new ground. Once a top flight team, they now look doomed to fall out of the league. They will return in due course, but dark days just now.

Where is UptheOs when you need him?

[3 minus 2]

On 03/22/2017 at 11:02 AM, champers said:

Barry Hearn sold the club to these clowns, so must bear some responsibility. They were well into a death spiral before West Ham moved to their new ground. Once a top flight team, they now look doomed to fall out of the league. They will return in due course, but dark days just now.

Where is UptheOs when you need him?

Hearn sold it the min he couldnt get a foot in the door at the olympic stad, which by RIGHT they should have and hearn flogged only the club so if that goes under as he owns the stad i presume freehold he'll have a  a nice little lump of real est to develop, but in all honestly i recon he would have preffered to take the o's up further.