Bury Football Club have defaulted on a plan to help settle their outstanding debts, an insolvency firm appointed by owner Steve Dale has confirmed.
Creditors approved a Company Voluntary Arrangement (CVA) proposal in July which would have seen the club’s football creditors paid in full.
Unsecured creditors, including HMRC, were due to be paid 25% of money owed.
“We will be looking at taking necessary action,” Steven Wiseglass of Inquesta Corporate Recovery & Insolvency said.
“No further comment can be made at this stage.”
The club were deducted 12 points for the insolvency event but were eventually expelled from the English Football League in August after a proposed takeover collapsed.
Bury, who had won automatic promotion from League Two just three months previously, were the first team to drop out of the EFL since Maidstone’s liquidation in 1992.
Since their expulsion by the EFL the club, who were founded in 1885, have had two winding-up petitions over unpaid tax dismissed by the High Court.
The Shakers appeared to be on the brink of liquidation after a further prospective buyer ended their interest in October, but during a previous petition the club argued they had continued to automatically pay tax on wages that were not received by staff.
Businessman Robert Benwell addressed supporters in December about his plans to “bring football back to Bury”, with one of the options being to start the club again if it goes into liquidation, but it is unclear what will happen to the club next and in what form.
More to follow.