Notts County owner Alan Hardy's company Paragon Interiors goes into administration

Alan Hardy completed a takeover of Notts County in early 2017

Notts County owner Alan Hardy's design company Paragon Interiors Group has gone into administration.

The 55-year-old said earlier this week that financial problems at the company would not affect the League Two club.

BBC Radio Nottingham reported the company lent money to Notts to buy and fund the club as part of Hardy's takeover deal in January 2017.

Hardy earlier said he would support Notts "as best" he could while dealing with "a very difficult situation".

In a statement on Monday, the local businessman said: "Further to recent speculation about the financial performance of Paragon Interiors Group PLC and any impact this may have on Notts County Football Club, I want to assure supporters that the club will not be affected."

After 34 league games this season, Notts are five points from safety and could slip out of the English Football League for the first time in their 157-year history.

Hardy, who assumed control of the English Football League's oldest club after agreeing to take over from previous owner Ray Trew, apologised last month after he posted a tweet which included a nude image and went on to put the club up for sale later the same day.

In addition, Hardy claims that he expects to receive a formal offer to buy the club, who have been in the relegation zone since mid-November, from an "overseas consortium" this week.