Preston North End Issued with a Winding-Up Petition by the Inland Revenue.

[Crozzer]

Preston North End are investigating ways of continuing after the football club was issued with a winding-up petition by the Inland Revenue.

The club was 20 days overdue with its April tax and national insurance liabilities and could be forced to dissolve.

The club borrowed £550,000 to pay players' wages and will have its shares suspended on Monday.

Finance director Kevin Abbott said the board was "looking at options".

'Onwards and upwards'

He said: "The board of the club face a challenging economic climate and is disappointed that HMRC have taken this action in respect of a debt which is around 20 days overdue.

"We will be looking at our options to solve the issue next week."

Supporters' spokesman Steve Cowell said he believed money would be found and the club had a future.

"We've got young fresh players and a young fresh manager in Darren Ferguson and we've absolutely no problem.

"We'll sort it out next week and it'll be onwards and upwards."

[OOH! SHAUN TAYLOR]

FFS. Fitton wasn't so far out when he predicted 15 or so teams going out of business this season. I know no one has actually gone out of business...YET...but there's easily that number deep, deep in the shit.

[reeves4england]

Supporters' spokesman Steve Cowell said he believed money would be found and the club had a future.
"We've got young fresh players and a young fresh manager in Darren Ferguson and we've absolutely no problem.
"We'll sort it out next week and it'll be onwards and upwards."

Talk about blind optimism!

[glos_robin]

Preston are owned by someone who is very rich (owns Blackpool tower and stuff?) I believe but much much like Fitton and co doesn't like spending money he doesnt have too. I'm sure if it gets to the stage where they need money urgently he'd bail them out

[pauld]

This seems to be just more of HMRC's "Don't piss about, just go boots in straightaway" approach they've been adopting more and more of late, rather than a serious threat to Preston's existence

[Talk Talk]

This seems to be just more of HMRC's "Don't piss about, just go boots in straightaway" approach they've been adopting more and more of late, rather than a serious threat to Preston's existence

Tax collectors wear boots? That conjures up all sorts of mental images.

[url width=600 height=600]http://www.drinkstuff.com/productimg/25455_large.jpg[/url]

Looks like I might have to postpone my next payment in advance.