The creditors of Southend United have agreed to reschedule a court hearing to consider a winding-up petition against the club by one month.
It is anticipated that the National League team will have found new owners before the newly suggested May 15th deadline.
The winding-up petition was scheduled to be heard by the London Insolvency and Companies Court on April 17.
However, Ron Martin, the chairman of Southend, has stated that he is 99.9% certain that the club will be sold by mid-next month.
Although the deal is still ongoing, Martin exchanged contracts in December to sell Southend with a group headed by Australian IT millionaire Justin Rees.
Having not been paid for their legal services rendered to the Essex Club, the law firm Stewart’s Law filed the petition.
Two additional creditors agreed to back the petition.
“Following discussions with Ron Martin we have today agreed to an adjournment of the hearing on 17 April until 15 May (subject to the court’s approval) by which time we are advised the sale will have completed,” stated Stewart’s Law in a statement.
With three games left, Southend is currently seven points outside of the play-offs in 10th place in the National League table. This development is the latest in a season of turmoil for the team.
The club’s debts had previously topped £2.5 million, and in August they were docked 10 points for missing a deadline to settle a £275,000 tax bill.
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