25 Jun 2010Preston North End shares still suspended

Football Clubs News | Football Finance News

Shares in Championship football club Preston North End remain suspended after HM Revenue and Customs (HMRC) issued the Lancashire side's board of directors with a fresh tax demand.

Although the tax office's winding-up petition, which was issued last month, was dismissed by the High Court earlier this week, HMRC has since informed Preston North End that they owe a further £435,000 in overdue revenues.

The news came after recently-appointed vice-president Maurice Lindsay expressed hopes that the worst of the club's financial woes were over and promised the team's football fans a "new era" had dawned.

"It is good news that the winding up petition has been dismissed and season ticket sales appear to be picking up again after the announcement that the debt had been settled earlier this week," he said in a statement.

Earlier this month, secretive multi-millionaire Trevor Hemmings assumed a 51 per cent stake in Preston North End.

Written by Mark Thompson

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