Source: Team_Talk
Trembling reassures Magpies fans
The Magpies' parent company Blenheim 1862 has been served with a winding-up petition from HM Revenue and Customs.[LNB]The club was served with a petition by HMRC on November 27 over an additional six-figure tax debt.[LNB]Trembling explained that the two petitions are not connected, but even so, County could find themselves in the Royal Courts of Justice in London on January 27 facing administration.[LNB]However, Trembling, who bought the club for £1 from Swiss-based Middle East consortium Munto Finance in December, insists it will not get that far.[LNB]He explained that he has been in negotiations regarding multi-million pound investment, and there are now active discussions which he hopes will lead to fresh funding.[LNB]In a statement on the club's official website, Trembling said: "While appreciating that news of a petition from HMRC will come as a source of concern to supporters, I can reassure them that we are doing everything possible following the management buy-out of the club to ensure that the club's finances are put on a stable footing.[LNB]"Since being made aware of the possibility of the petition, we have kept our management and playing squad fully informed about the situation.[LNB]"Our efforts are focused on securing new investment to the club. Since completing the management buy-out, this has been our principal objective to ensure that we can continue to deliver on-field success.[LNB]"As a result of these works, the club is now in active discussions with a number of interested parties regarding substantial multi-million pound investment into the club. We are extremely encouraged by these discussions and hope to make an announcement in the near future.[LNB]"We have kept all our potential investors fully appraised of the situation regarding HMRC and they are fully relaxed about this.[LNB]"I can categorically reassure all supporters that the club intends to meet and settle the requirements of this petition and of our other creditors.[LNB]"The monies involved in this petition are entirely separate to the previous petition which was settled in full at the time several months ago.[LNB]"Clearly, the postponement of three fixtures over the festive period has not helped the club's cash flow and this is an area which are currently actively addressing.[LNB]"Our immediate objective of securing promotion this season remains unchanged and the group of players we have assembled are totally committed to achieving that."[LNB][LNB]
