HMRC Chase Preston For Debt

15 May 2010 11:48
Preston have been served a winding up order by the Revenue for the faiilure to pay their tax bill for the month of April As Preston are a PLC the share in the company have been suspended from being traded whilst the issue is resolved with the Revenue. Preston have revealed that major shareholder Trevor Hemmings gave Preston a loan in March to cover the player's wages for that month and the club are now in negotiations with Hemmings about further funding for the start of the new season. It is though Preston owe the Revenue around £500,000 which compared to both Portsmouth and Cardiff at Preston is not a great sum in the grand scheme of things but still needs to be paid to avoid further action through the courts.