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Wrexham Enter Admin

By: Rob Sedgwick
Date: 03/12/2004

LEAGUE Two club Wrexham have entered into administration after they were unable to pay an estimated £800K tax bill. Although under a new Football League rule the Red Dragons will incur a 10 point penalty for entering administration, it was preferred to the alternative of facing a winding-up order.

The Mariners are believed to owe a similar sum to the Inland Revenue, and this week Town Chairman John Fenty make clear the distinction between Grimsby and the Welsh club.

"Our position is different to that of Wrexham because we have a repayment plan for our tax bill", the Town supremo told the Grimsby Telegraph.

"Wrexham owe somewhere in the region of £800,000 but they are not a going concern and that is why I feel the tax men are moving in. We are different because we have a structure for repayment of our bill and we manage our income and outgoings.

"The tax men will only look to take action, I think, if they see no way of getting their money back."

  • Meanwhile Grimsby defender Terrell Forbes has signed a contract with the Mariners until the end of the season, paying back Town's faith in the Londoner for offering him a contract, despite the imminent prospect of him facing a high-profile court case.

    Forbes had verbally agreed to a permanent move to Blundell Park following his acquittal (as reported by the Fishy at the time), but only put pen to paper this afternoon.

    The former QPR defender will be available for Tuesday night's game with Notts County.

    Terrell Forbes Profile

  • Russell Slade has not managed to bring in a striker on loan yet, although the Town boss is still hoping to bring a new face to Blundell Park before Tuesday's game with Notts County.

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