Her Majesty's Revenue and Customs applied for an order at the High Court Thursday morning to place the club into administration, branding it 'incontrovertibly insolvent'. Oh-err.
Sainsbury's supermarket is once again believed to have coughed up the £238,710 needed to cover the Shrimpers latest debt but the country's tax collectors weren't going to let us off that likely.
Never failing to put the boot in when their victim is already lying in the gutter, or maybe on a sunbed as it didn't seem chairman Ron Martin's holiday plans were to be interupted by the minor inconvienience of his club possibily going bust, HMRC added for good measure that United are 'in persistent default' of payments as and when they fall due, and brought up a VAT liability that they say was due for payment Wednesday.
And there was still more folks!
The court were told that Southend had not filed any evidence to defend the application since it was served on June 28th.
It was also informed that SUFC faced a winding up petition next week, from Charterhouse Commercial Finance over a £140,000 debt.
However, somehow, the great escape continued, as Judge Mr. Justice Newey allowed Southend 14 days to prepare its evidence, and allow Uncle Ron to prove he could actually run a football club without making Fagin look a model businessman.
The case was adjourned until Monday, August 2nd.
In an official statement the club said it had 'arranged funds for the full amount to be sent to HMRC's solicitors.'
At the last minute though those dastardly taxmen added more costs and an even higher sum to the petition which the Shrimpers 'were unable to arrange to transfer in time.' The bastards.
The statement continued: 'Despite an offer to pay this further sum in three to five working days the proposal was not agreed by the Revenue and they continued their request for administration.'
Well, you can't blame them with our record, but anyway, Southend were given until July 22nd to produce evidence that it's able to meet it's 'liabilities' on an ongoing basis going forward.
Judge Newey then deferred making a decision until August 2nd.
Hopefully, this will not affect the payment of the loan back to the PFA and the transfer embargo will be lifted and at least the new manager can sign his contract and carry on rebyuilding the squad. Hopefully.
For the full statement from the club, go here:
www.southendunited.co.uk/page/NewsDetail/0,,10444~2086954,00.html
For the article regarding the second winding-up petition:
www.southendunited-mad.co.uk/news/tmnw/
shrimpers_insist_second_windingup_order_is_sorted_
funds_in_place_to_meet_the_liabilty_536124/index.shtml