Sheffield Wednesday close to winding-up petition over £1m HMRC debt
Sheffield Wednesday are close to being issued with a winding-up order by HMRC over an unpaid tax bill of around £1m, The Star understands.
The club have been in the clutches of crisis for several months, with debts outstanding to suppliers, other clubs and football creditors as well as HMRC. Employees saw their September salary payments settled a fortnight late earlier this week - the fifth month in seven that has seen owner Dejphon Chansiri fail to satisfy financial obligations to his workforce.
The Star, along with BBC Sheffield, has reason to believe proceedings around the possible enforcement have been taking place behind the scenes for some days. As reported by The Daily Mail, one of the possible eventualities going forward is administration, though there are still matters to play out. A winding-up petition is a formal court application, usually filed by a creditor, to force an insolvent company into compulsory liquidation.
It is the latest remarkable twist in a long and testing year for the Owls and will come as some concern to its fan base. Despite its rapid downturn in fortunes both on and off the field, The Star has had no indication that Chansiri has engaged in a proper sales process, with confusion remaining over how any likely deal might look.
One source who has had dealings around the potential acquisition of Wednesday says his party formally pulled out of proceedings last month due to unrealistic expectations and the absence of a workable sales process.
Where the threat of a HMRC winding-up petition leaves Wednesday remains to be seen, though it is understood that they could move quickly depending on continued discussions. Chansiri has been the subject of widespread protests by supporters in recent months, with their efforts around Championship survival left looking uphill after the decimation of their squad over the summer.
The Star will be following the story closely.