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Sheffield Wednesday hit with second winding up order

Npower League One side Sheffield Wednesday has been hit with a second winding up order from HMRC.

The action is in relation to an outstanding PAYE balance of £600,000. The club was hit with its first winding up order in July and has been working hard to resolve its financial problems since.

In response to HRMC’s decision the club issued the following statement:

"As per the initial winding up order in July, Sheffield Wednesday would like to inform supporters that their club is not about to be wound up, nor is it about to enter into administration.

"The Co-operative bank authorises all payments going out of the club and have on this occasion declined to ratify the HMRC payment.

"Howard Wilkinson and Nick Parker continue to work tirelessly to seek a positive conclusion to the financial issues at the club.

"Ongoing talks with a lead investment party and others remain extremely positive. One investment group has pledged to pay HMRC £600,000 as a token of its commitment to concluding a deal at the club and we continue to monitor that situation.

"Administration is not the answer to the club's problems. The cash required to obtain control of the club at this moment would be no greater and probably less than if the club was in administration - not to mention the loss of goodwill across the board; the massive costs involved; the large write-off that would be suffered by the bank; and the mandatory ten-point deduction imposed immediately by the Football League."

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