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http://www.bbc.co.uk/sport/football/39126425

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Leyton Orient: League Two club to face winding up petition from HMRC

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London football club Leyton Orient has been served with a winding up petition by HM Revenue and Customs.

The petition was delivered to the club on 2 February, with a hearing to be held at the High Court on 20 March.

The struggling League Two club are currently second bottom in the table, and in danger of going out the Football League.

A 4-1 defeat at Stevenage on Tuesday evening left them six points adrift of safety.

Orient president Francesco Becchetti said last month that he would consider selling the club, which he took over in 2014.

However, it is understood a number of potential offers have not been considered sufficiently financially attractive.

While the taxman is the principal petitioner for a winding up, it now remains to be seen whether other creditors will come on board and support the action.

In its most recently available financial results, for the year ending 30 June 2015, Leyton Orient put their book value, the net value of the company running the football club, at -£5,512,449 - in other words, the club had debts exceeding its assets of more than £5.5m.

A spokesman for the EFL said they were aware of the winding up petition, and had been in contact with the club asking them for further information and observations about the situation.

'In a hole'

A meeting of the Leyton Orient Fans Trust (Loft) supporters' group will take place on Thursday to establish a financial "fighting fund" to help revive the club should it go into liquidation.

"This is a cause for alarm, but given the way things have been going recently we suspected something like this was coming down the track," said Tom Davies, vice chairman of Loft.

"Obviously it is concerning to get a winding up petition, and we are worried about how the owner will react, if indeed he does react to this."

Davies said the HMRC action would give extra focus to the fan meeting, and called on supporters to rally around to save the club.

"We need new funding, and a new owner, " he added. "Other clubs have survived periods like this and gone on to flourish, but first of all we need to get out of the hole we are in at present."

Yay.

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29 minutes ago, lanky316 said:

I guess with inflation we could see a documentary "Club for a tenner" come out of this shambles... Hope you are able to sort something to get out of this shit storm, it seems to keep getting worse there these days..

At the very least if it all goes tits up I would like to see the FA have stronger checks on which wally is going to buy a club.

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3 hours ago, lanky316 said:

I guess with inflation we could see a documentary "Club for a tenner" come out of this shambles... Hope you are able to sort something to get out of this shit storm, it seems to keep getting worse there these days..

They did a documentary on our plight in 1998 and the situation only got worse for wider football from there on in. We recovered like but it wasn't bloody easy!

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39 minutes ago, MDK said:

Bloody hell, 2-0 up within 15 minutes. What madness is this?

3-0 at the break, so glad it's against Westley.

Marquis missed a penalty for us today, that is the SIXTH spot kick the team has missed this season. Ridiculous.

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Just now, Adam said:

@MDK I will be at Brisbane Road for Leyton Orient v Doncaster in 12 days time. What do I need to know?

If you are going to do a pitch invasion don't jump the barrier at the south end of the stadium. You'll break your neck.

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40 minutes ago, MDK said:

If you are going to do a pitch invasion don't jump the barrier at the south end of the stadium. You'll break your neck.

Odds are slim.

The depressing thing is, my dad said he wanted to go to this one as he "doesn't expect he'll have another chance to go to Leyton Orient again". Hope he's wrong!

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