By Hugo Varley
Northampton Town have been issued with a winding-up petition by HM Revenue and Customs following the collapse of a prospective takeover earlier in the week.
The petition is thought to be in relation to money outstanding following the recent failed takeover and not the £10.25m loan that the club owe to Northampton Borough Council, which was used to build the new East Stand, a hotel and a conference centre.
In a statement on the club’s website, chairman David Cardoza said he expects the situation regarding the winding-up petition “to be resolved by the end of next week.”
Cardoza told fans: “We are putting proposals to the Council regarding the repayment of the loan which we hope will prove satisfactory to them and that process is ongoing as we speak.
“I fully appreciate that, off the pitch, there only seems to be bad news for supporters at the moment but we are working towards, and we believe we are close to, a conclusion on all matters that tidies up all of the issues surrounding the club and allows it to move forward to a much brighter future,” he added.