Bury: Prospective buyer withdraws interest after due diligence on club

Gates at Gigg Lane
Bury were founded in 1885 and have twice won the FA Cup

A prospective buyer for expelled former League One club Bury has ended their interest after doing due diligence, says supporters' group Forever Bury.

The club, who plan to apply for a place in the 2019-20 National League, face a winding-up petition on Wednesday.

Forever Bury had planned a legal defence against the petition, but say there is no longer "adequate evidence" to put forward a "meaningful case".

Bury will go into liquidation if they are wound up at the High Court.

The case has been brought against them by HM Revenue and Customs, as a result of unpaid taxes.

"The interested party who has been working with Forever Bury on a proposed bid to buy the club has confirmed this is no longer a viable prospect for them," a statement said.

"As matters have unfolded and the necessary due diligence has been undertaken, the complex, complicated and financially distressed situation at Bury Football Club has resulted in their decision to stand back from further discussions."

Bury were expelled from the English Football League in August, with a proposal to readmit them to League Two next season rejected by member clubs.

Bury North MP James Frith - chair of the Bury FC Rescue Board - said: "We await our fate on Wednesday as to whether Bury FC is liquidated.

"If we are we will rise again with the assistance of the FA, who have confirmed their support already for our application to the National League system, come what may."

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