Bolton handed winding-up petition over unpaid tax

London - Championship struggler Bolton on Thursday confirmed it has been hit with a winding-up petition from British Revenue authorities over an unpaid tax bill.

Wanderers' financial crisis has deteriorated rapidly over the past few weeks after it was revealed they had failed to pay their players for November.

Bolton had hoped it could conclude a takeover this week after drafting in financial advisor Trevor Birch to help owner Eddie Davies, who is willing to wipe out £185 million ($280 million) of loans owed to him, to sell the club.

Related: Bolton boss Neil Lennon reveals club takeover could be close

However, with no deal concluded, British tax chiefs have acted to call in unpaid bills for the month of November.

It raises the possibility of administration for Neil Lennon's bottom-of-the-table side, who would have its entire points total wiped out if they were to incur the 12-point deduction.

"Bolton Wanderers can confirm that the club has now received a winding-up petition from HMRC," a Bolton statement read.

"Despite requests from the club to HMRC to give it further time to either conclude a sale or raise additional funds, HMRC has proceeded with due process and duly served a petition."

Wanderers have been in discussions with a handful of interested parties since Birch was brought on board last month, including a consortium headed by former striker Dean Holdsworth, which has financial support from boxer Amir Khan.

But the club remains in limbo until a suitable buyer can be found because Davies has turned the tap off on his own financial support.