Macclesfield Town wound up in High Court after racking up debts of over £500,000
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Macclesfield Town have been wound up after a judge was told the football club owe more than £500,000.
Judge Sebastian Prentis made a winding up order at a virtual hearing in the specialist Insolvency and Companies Court on Wednesday.
He was told the club owe nearly £190,000 in tax and more than £170,000 to two other creditors.
National League side Macclesfield Town wound up in the High Court over £500,000 debts
Lawyers representing HM Revenue and Customs had applied for a winding up order.
The judge said he could see nothing which gave him ‘any comfort’ that the club can pay the debts.
He was overseeing the latest in a series of hearings.
Macclesfield, who were recently relegated from the fourth tier of league football into non-league football, become football’s club to fold in the coronavirus pandemic after 146 years in existence.
Judge Sebastian Prentis made a winding up order at a virtual hearing on Wednesday
They were relegated after being docked points for breaches of regulations relating to non-payment of wages and dropping to the bottom of League Two.
Judge Prentis said the winding up petition had been presented ‘as long ago’ as early 2019.
‘There have been a number of adjournments of this petition,’ he said.
‘I can see nothing that gives me any comfort that this club can pay its debts within a reasonable period.’
A barrister representing Macclesfield had asked the judge to adjourn the application once more.
Bury became the first club in 28 years to be expelled from the Football League last year
Niall McCulloch said discussions over a sale were at an advanced stage and a buyer had been found.
At a hearing a week ago, Mr McCulloch had said a sale was expected to be completed by the end of September.
Another judge had given Macclesfield bosses seven days to file evidence to show that funds were available.
Judge Prentis said there had been “ample opportunities” for creditors to be paid.
Just over a year ago Bury became the first club in 28 years to be expelled from the English Football League.
Concerns over finances have dramatically increased for clubs in the Football League due to the impact of Covid-19.
Macclesfield fans have voiced their reaction to the sad news on Wednesday on social media
Sportsmail revealed last month that the EFL are forecasting an aggregate collective loss of about £250million for all of its clubs by next April unless a significant number of fans are allowed to return to stadiums by October.
Along with Macclesfield Wigan were relegated last season following financial misdemeanours. The Latics became the first Football League club to go into administration in the pandemic and were hit with a 12-point deduction, which saw them drop down to League One.
Macclesfield fans have voiced their reaction to Wednesday’s sad news on social media.
The BBC’s Nick Robinson wrote: ‘My home team Macclesfield Town FC wound up in High Court over £500,000 debts – first of many clubs to go under I fear.’
While another supporter said: ‘As a lifelong macc (sic) fan…had some of the happiest of times at the moss rose (and away) this is absolutely devastating, no words.’
Other football fans also offered their commiserations to those associated with Macclesfield.
Other football fans also offered their commiserations to those associated with Macclesfield
A Twitter user wrote: Gutted for all #silkmen fans. All I can say is this doesn’t have to be the end of football in Macclesfield, stand together, rebuild and make sure there is football in Macclesfield for future generations to come. I’m 100% sure we at @OfficialBuryAFC will give you advice if require.
Another added: ‘Just so sad. I’m getting increasingly angry at the football divide. With all that’s happening in the world, football needs to have a long hard look at the money it generates & where that money goes. My heart goes out to Macclesfield’s fans.’
While one fan expressed their concern for other clubs: ‘I fear Macclesfield may be the first of many to follow unless something radical is done to support lower league clubs.’
While one fan expressed their concern for other clubs after Macclesfield were wound up
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