Bury’s last hope disappears as buyer pulls plug on deal with the Shakers set to be liquidated
BURY are set to be liquidated on Tuesday after the club’s last hope of rebirth disappeared.
The former League One club, booted out by the EFL in August, face a winding up petition from HMRC.
And any hope of avoiding that fate appeared to be finished when the Forever Bury fans’ group announced the remaining potential buyer had pulled out.
Forever Bury said: “We regret to inform the supporters of Bury FC that the interested party who has been working on a proposed bid to buy the club has confirmed this is no longer a viable prospect for them.
“As matters have unfolded and the necessary due diligence has been undertaken, the complex, complicated and financially distressed situation at Bury FC has resulted in their decision to stand back from further discussions.
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“Resulting from this news, Forever Bury will not now be putting forward a legal defence against the HMRC winding up petition on October 16.
“We believe there is no longer adequate evidence to suggest a meaningful case could be made.”
The EFL expelled Bury without them playing a game this season.
Then three weeks ago member clubs rejected the Shakers’ bid for “compassionate re-entry” at League Two level next term.
An EFL statement said at the time: “It became clear that the proposal did not have the necessary support.”
So come May only one team will drop from League Two to the National League, rather than the usual two.
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And just three clubs will go down from League One.
EFL executive chair Debbie Jevans said then: “While we are saddened that Bury FC is no longer part of the EFL, the board’s difficult decision to withdraw membership was only taken after every opportunity to find a resolution was exhausted..
“The clubs felt that, in a difficult situation, this approach maintains fairness for all members and upholds the principle of the football pyramid.”