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Preston North End FC face winding-up petition

Thu 27th May 2010 | Money & Finance

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 has had its shares suspended on Monday 17th May.

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

He also added: "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 told the BBC that he believed the 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."

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