Source: Team_Talk
Hatters go into administration
County have fought a long battle to stave off administration but their severe level of debt - one of their creditors is owed £300,000 - has left them with no other option.
The League have confirmed the 10-point deduction will be incurred this season, meaning the Hatters will drop from 13th to 17th in the table.
However, they are still safe from relegation barring a mathematical miracle this weekend.
Being docked 10 points this season has little consequence for Jim Gannon's side, who currently stand 13 points above the relegation zone.
John Titley and Paul Reeves, directors of Manchester-based accountancy firm Leonard Curtis, said they had been appointed as joint administrators after "protracted negotiations" with a secured creditor.
Titley said: "We are keen to work with the board to explore all possible solutions to ensure the club's future prospects are protected as far as possible. We are extremely hopeful that we will find a buyer for the club
and are already aware of a number of expressions of interest.
"We are committed to working with the club's management team to resolve this situation as quickly as possible, balancing the needs of concerned creditors with the future of the club."
