Southend United has settled their tax debts amounting to £493,931 to have their winding-up petition dismissed in the High Court on Wednesday.
The EFL‘s basement club had been afforded four adjournments to give them more time to reach a repayment plan involving installments.
Fears had grown that the Shrimpers could follow the route of Macclesfield Town in being wound-up by the High Court and being liquidated over debt levels similar to Southend.
But a lawyer representing Southend in court notified Chief Judge Briggs that debts had been paid in full.
Troubles on the pitch remain a pressing issue to United’s EFL status following a winless start to life back in League Two.
Mark Molesey’s side are 1/9 odds-on favourites to be relegated to the National League after losing seven of their nine matches to open the season, with speculation that the club’s wage bill has been slashed from £2.8m to £1.1m this year.
