Portsmouth given stay of execution

PORTSMOUTH have been granted extra time to fight a winding-up petition at the High Court today.

PORTSMOUTH have been granted extra time to fight a winding-up petition at the High Court today.

The club faced proceedings over a multimillion-pound unpaid tax bill after talks with Revenue and Customs failed and now has one week to draw up a statement of its financial affairs.

Pompey chief executive Peter Storrie said he remains hopeful that a new owner can be found who would be able to pull the club out of its financial plight.

Portsmouth faces a VAT bill of �7.4million which it is disputing with HMRC while it also owes �4.7million in unpaid PAYE and National Insurance which were not part of today's petition.

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter