Chairman Ron has explained that the Shrimpers were aware of a payment shortfall to HMRC of £690,000 but at the Football League's AGM in June a resolution was passed, and accepted by Her Majesty's taxmen, to give clubs more time to clear their debts.
It seems that someone down at the tax office jumped the gun and on the very day the new rules were passed, June 12th, a petition was issued against Southend United.
Anyway, Uncle Ron tells us that: "whatever the position, since June 12th we have been in a statutory process that has run its course. Supporters need not be alarmed. Advertising a winding up position is an automatic part of the process and has to be carried out a few days before the hearing scheduled later this month. The club will seek adjournment whilst we conclude the agreement with HMRC."
For the full letter from the chairman on the official site go here: