"On the face of it this company is not able to pay its debts as they fall due.
"The only basis, I'm being told, on which there is a prospect of this being resolved is through a third-party investor, but there is no evidence before the court.
"However, I take note that it is only the second hearing. I will grant an adjournment for 56 days and that is for settlement in full."
"Rumours of a last-ditch tax payment proved unfounded as Chester City Football Club (2004) Ltd were [sic] this morning wound-up in the High Court in London. The club had no representation in court.
"The hard work of starting a community based Phoenix Club through CFU, and hopefully with the support of the local council and business, now gets underway."
In the context of insolvency 'phoenix' is perhaps not the best turn of phrase but we wish the club and their supporters well! In other news eighty-five (85) of Portsmouth FC's employees have also been made redundant today according to Auntie.
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