Another winding up petition – for Southend United (Image: Focus Images)
The Consortium looking to buy Southend United have confirmed this week another winding up petition is in the pipeline.
Led by Australian businessman Justin Rees, it seemed as if brighter tomorrows would be on the horizon for Southend but one year on from Ron Martin stating he would be selling the club, the sale still is yet to go through.
The reason for this is the historical debts of £2.5m which the Consortium are currently unwilling to pay off until the deal is finalised. They have already invested £3m.
An official statement by the Consortium said: “Unfortunately, one creditor is unwilling to wait until the sale closes to receive repayment and is now petitioning for the club to be wound up.
“While the consortium continues to pay all wages and other operating expenses, we are not willing to fund payouts to historic creditors until we are confident that the closing conditions, over which we have no control, will be met.”
The Shrimpers currently sit in tenth place and make the trip to Wealdstone on Tuesday.
