Southend winding-up case to be adjourned again

Southend United were formed in May 1906

The latest winding-up petition hanging over Southend United will be adjourned again on Wednesday to allow a sale of the club to be completed.

Legal firm Stewarts Law LLP, who represented the club in previous disputes, filed the petition.

But they have been assured by owner Ron Martin that a takeover by a consortium led by Australian Justin Rees will be completed within six weeks.

"Based on that understanding, we have confirmed that we will support this adjournment," Stewarts Law said in a statement.

The Shrimpers have faced several winding-up petitions in recent years with the National League club mired in financial problems.

Martin, however, agreed a deal with the Rees consortium on 3 October last year and contracts were exchanged just before Christmas.

The deal has been held up because the local council have been completing due diligence over housing contracts relating to Roots Hall, where the consortium wishes Southend to remain, and Fossetts Farm, which Martin had hoped would be the location of a new stadium.

Stewarts Law lodged their petition over unpaid bills on 4 April, but the case was put back for a month when it was heard on 13 days later.

In their statement, Stewart Law said: "Ron Martin has contacted us to advise that the completion of the sale of the club is not now likely to occur before 15 May, the date of the adjourned winding up hearing, despite substantial progress having been made.

"Mr Martin has indicated that he will be requesting from the court, on behalf of the club, a further six-week adjournment and has asked if we will support that request.

"We understand that this further adjournment will provide sufficient time to secure completion of the sale of the club, enabling it to swiftly clear its historical debts and return to solvency."

Despite a 10-point deduction Southend finished ninth in the 2023-24 National League table, missing out on a play-off place by six points.