Page last updated at 15:16 GMT, Wednesday, 27 January 2010

Hinckley United given new tax bill deadline

A Leicestershire football club has avoided being wound up after promising to pay a tax bill within two weeks.

Officials from Hinckley United were in the Companies Court in London to face demands from HM Revenue and Customs that it should be put out of business.

After a series of warnings last year, it was given until the end of January to meet the £191,000 bill.

But after hearing a remortgaging deal was imminent, the court set a new deadline of 10 February.

The Conference North side has faced financial problems in the past, with a transfer embargo put on the club in November 2008 which was only lifted when loans were taken against its training facilities.

But falling sponsorship and advertising revenues, as well as a drop in attendances, have seen problems return - with players wages cut by 25%.

If the club does not meet the next deadline and the winding up petition is granted, it will be placed in administration and could cease to exist.

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