Late today an announcement that PNE has an outstanding tax bill that will cause the clubs shares to be suspended on Monday. The formal term appears to be a ‘winding up order’ which is thought to sound more dramatic than it actually is.
A quick search on Google shows that several clubs have had these orders or been threatened with them. Those listed in the search seem to still be trading, Cardiff, Bournemouth, Portsmouth, Swindon, Accrington.
That PNE had a loan from Trevor Hemmings to pay the wages recently sounded a bit ominous. This can’t have been totally out of the blue so the club and board members will probably know the options and be exploring them. Many people expect Trevor Hemmings to conjure up some cash as he’s unlikely to let his shareholding whither, yet there might be other options to be taken with more vigour to reduce costs and generate cash.