Southend United: Club's creditors agree to court hearing delay over potential winding-up petition
- Published
Southend United are currently 10th in the National League table and seven points off the play-off places
Southend United have agreed with their creditors to push back a court hearing by a month that would consider a winding-up petition against the club.
It is hoped the National League side will have been sold to new owners ahead of the new proposed date of 15 May.
The Insolvency and Companies Court in London were due to hear the winding-up petition on 17 April.
But Southend chairman Ron Martin has said he is 99% sure the club will be sold by the middle of next month.
Martin exchanged contracts for the sale of Southend with a consortium led by Australian IT millionaire Justin Rees in December but the deal is yet to be fully completed.
Law firm Stewart's Law lodged the petition having not been paid for legal work for the Essex club.
Two other creditors declared they would support the petition.
"Following discussions with Ron Martin we have today agreed to an adjournment of the hearing on 17 April until 15 May (subject to the court's approval) by which time we are advised the sale will have completed," read a statement from Stewart's Law.
The development is the latest in a season of turmoil for Southend, who are 10th the National League table, seven points outside the play-offs with three games remaining.
The club's debts previously reached £2.5m and they were deducted 10 points in August for failing to meet a deadline to pay a £275,000 tax bill.