Wrexham tries to avoid insolvency

The League One club officials have appointed an insolvency specialist and arranged to meet the Inland Revenue and HSBC bank to discuss its perilous financial situation. The Inland Revenue has lodged a petition to wind up the club due to £800,000 it is owed, and the bank has frozen the club’s accounts for cashing cheques or making any other transactions. The Professional Footballers' Association has pledged to support the club’s players. With the club's bank account frozen, the players received only part of their salary this month from gate receipts.  Members of Wrexham’s Supporters' Trust have met club owner Alex Hamilton, who resigned his post as Chairman, to discuss the possibility of buying his 78% shareholding. Hamilton is looking to get around £5m before cutting his ties with the club. Hamilton however rejected the trust’s second offer "Hamilton is quite happy for us to go into liquidation," trust member Lindsay Jones commented to media. Jones added that the new offer would have made a £1m profit for Hamilton, but feared the chairman was holding out because he could make more money from the club’s Racecourse Ground should the club go out of business. Club director Dave Bennett said he was optimistic the problems could be resolved. "We will carry on soldiering on to keep the club afloat," he said. "We are confident about the future. We will try to get the bank back on our side so that we can go on trading as normal."

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