Macclesfield Town have been wound up in High Court on Wednesday afternoon after a judge was told that the club owed more than £500,000.
Judge Sebastian Prentis made a winding up order at a virtual hearing in the specialist Insolvency and Companies Court on Wednesday.
He was told that the Shrimpers owe nearly £190,000 in tax and more than £170,000 to two other creditors.
Lawyers representing HM Revenue and Customs had applied for a winding up order.
The judge said he could see nothing which gave him “any comfort” that the club can pay the debts.
He was overseeing the latest in a series of hearings.
Macclesfield were recently relegated from the fourth tier of league football into non league football.
They were relegated after being docked points for breaches of regulations relating to non-payment of wages which dropped them to the bottom of the League Two table.
So what next for the Silkmen?
The club has lost control of their future which is now in the hands of the creditors and the court.
Administration is possible but somebody would have to agree to fund the process, as it would mean taking full control of the club. It’s highly unlikely that current owner Amar Alkadhi would agree to that, or even if he could cough up the money to save them, HMRC are not interest in running insolvent companies.
Supporters will be hoping that either an insolvency firm will take the job on, in the hope of making a profit on a successful sale, or someone appropriate can buy the club in the next few days.
Anything less and it would be impossible for the National League to let Macclesfield start the new season next month. They are scheduled to play Bromley at Moss Rose on the 3rd of October under new manager Tim Flowers.
The Silkmen Supporters Trust wrote: The SST are devastated by the decision of the court to wind up Macclesfield Town Football Club.
The responsibility for this lies at the feet of one person – Amar Alkadhi.
We are currently looking into what actions we can take to save the club and as such will be seeking a meeting with the receiver as soon as possible.
In the meantime the SST will attempt to put together a rescue bid.
We ask all our fans to unite and get behind the SST. We therefore ask any fan with specialist knowledge to contact the SST, as soon as possible.
Meanwhile, an application to wind up Southend United has been adjourned by Judge Prentis, in the hope that bosses can clear tax debts.
A lawyer representing tax officials said debts had been reduced and asked the judge to adjourn the application to give bosses at the League Two club time to pay.
The case is expected to be reconsidered in a few weeks.
Southend had featured at a hearing in March, when another judge agreed to an adjournment.
Fans reacted on social media to the news that Macclesfield Town have been wound up in High Court…
Gutted for the Macc fans. This just shouldn’t be happening. It’s not ideal, but seriously hope they can resurrect as a Phoenix.
— Pandamonium Fanzine (@Pandamonium1881) September 16, 2020
As a Bury fan I feel your pain. I’d stay off twitter for a while, seems to attract the nobhead “die hard” Premier league fans that live on the other side of the world.
— Dave (@Clarkeyy106) September 16, 2020
Sorry but if the premier league teams bailed out the likes of macclesfield you would get more scum takeing over such clubs and creaming moneh off them
— christopher holmes (@mrcrh11) September 16, 2020
500,000 and teams like Chelsea spending 200M to buy the league
— LocoLUFC (@loco_lufc) September 16, 2020
Whilst I agree Bale’s salary is obscene, what has it got to do with the demise of a poorly run football club in the lower leagues?
— Sir Rt Hon Simon QC Esq HRH MP MBE (@Siy2009) September 16, 2020
Just awful. Feel for their fans and employees.
But not for the owners who drove up the debt and didn’t manage the business properly.
Bury last year and Macc this, plus the numerous clubs who have suffered the same fate in recent years.
The only solace is the phoenix clubs.
— FootiePrint & Digital – Match Programme Solutions (@FootiePrint) September 16, 2020
Really saddened to hear this news, it was one of my favourite away grounds. The home supporters and everyone at the club were always very welcoming and friendly.
— heed lad (@BenshamHeedLad) September 16, 2020
Yet Macclesfield round the corner have gone bust today over 500k debt 🤷🏻♂️ https://t.co/YvJMW62oEy
— Theo (@Thogden) September 16, 2020
RIP Macclesfield Town 1874-2020. What a fucking waste.
— John Brewin (@JohnBrewin_) September 16, 2020
There will be tens of thousands of football fans in Macclesfield (just like Wigan) who spend millions on Sky TV and replica kits whilst looking down their nose at their local club. “Yeah, but Macc are shit” That may be true but they don’t deserve to die.
— Mudhutter (@mudhutter) September 16, 2020