Bolton given stay of execution as they battle to avoid liquidation

Bolton Wanderers have been given a stay of execution after the cash-strapped Championship club had been dragged before the High Court on Wednesday morning to answer a winding up petition which could have put them into administration and even resulted in liquidation.

However, the case was adjourned for two weeks to April 3 - meaning that officials now effectively have a fortnight to save the club.

Controversial owner Ken Anderson will continue his attempts to sell the club with the court told an unnamed potential buyer is willing to pay off their debts.

The winding up petition was brought by HMRC, who demanded more than £1million in tax payments.

Bolton's recent history has been one of financial turmoil. On several occasions this season players have been paid late and earlier this month desperate staff were forced to take out small amounts to put petrol in their cars and food on the table after February's wages were delayed.

The club's training ground was forced to close for a day thanks to fuel and supply shortages while their Championship clash with Millwall was also under threat before the local council was eventually satisfied that the match could be safely held.

The collapse of a proposed takeover last week is the latest chapter in a tale of misery under Anderson, who took over in 2016 paid himself a £525,000 bonus in his first year in charge.

No professional club has gone into administration for six years, while Aldershot were the last to be liquidated in 1992. The last team to go into administration was Coventry City, in 2013.

One potential issue is the cut-off point for when points deductions can be issued - from March 28, any club going into administration will be docked 12 points from next season, rather than the current campaign.

With Bolton unlikely to avoid the drop from the Championship this year, an immediate punishment would be much more appealing to any potential buyer.