Southend United could go out of business later this month after prospective buyers expressed 'urgent' concerns about their takeover attempts.
Southend United could go out of business later this month after prospective buyers expressed "urgent" concerns about their protracted takeover attempts.
Contracts were exchanged with long-time owner Ron Martin in December, but the takeover has still not been completed. "Signing the amended property contract remains the last condition for the completion of the club’s sale and COSU cannot see a path forward without it," the consortium said in a statement.
"Even if a compromise is reached, it seems certain that the revised property contract will not be signed prior to the 26 June winding up hearing for the club in the High Court."The consortium has now made three demands if they are to continue to fund the club, their attempt to complete the takeover and to satisfy creditors ahead of the court date.An updated scope and realistic timeline for the remaining council due diligence work.
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