Troubled Bolton Wanderers Football Club has gone into administration and faces a 12-point deduction next season as the club is relegated to League One
Administrators at David Rubin & Partners have been appointed following months of financial problems at the club, a founder member of the football league. Cashflow problems have been going on since the start of the year and players have not been paid since February while supporting staff have been paid late over the last few months.
Paul Appleton and Asher Miller of David Rubin & Partners have been named as joint administrators of Bolton Wanderers Football & Athletic Club (BWFC) and Burnden Leisure Limited (BLL) in the High Court of Justice.
Both appointments were made following the notices of intention to appoint administrators filed by Fildraw Limited last week, which followed a long period of uncertainty since the presentation of a petition by HMRC.
Fildraw Limited is a company which made substantial loans to the club via a trust representing the family of the late Eddie Davies, who owned Bolton until 2016.
The decision was finally made for the appointments which it is hoped will ensure the continued existence of the club, one of the founding members of the Football League.
Appleton said: ‘This has obviously been a long-running situation and it is vitally important that we quickly establish the position of both the football club and the holding company.
‘It has got to the stage where the Trust could not sit back and allow the club to go into liquidation. Decisive action had to be taken and the Trust believes the decision is in the best interests of Bolton Wanderers.
‘Everybody at the club as well as the supporters need a sense of clarity and that is what I will be seeking to provide as quickly as possible.’
Following the administration, an emergency food bank has been set up at the club grounds to support staff facing unpaid salaries.