Financial woes set to increase for Sheffield Wednesday

SHEFFIELD Wednesday are facing a second winding-up petition over unpaid tax – this time for VAT.

The Owls are already due in the High Court next Wednesday over outstanding PAYE payments totalling around 600,000.

But HM Revenue and Customs (HMRC) have issued a second petition for nearly 300,000 in unpaid VAT with a separate High Court hearing set for December 1.

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Wednesday declined to comment yesterday but it is understood the club believes the emergence of another court date with the taxman makes little difference to the urgent need to secure long-term investment at Hillsborough.

Without a takeover or significant injection of funds by next Wednesday, the League One club could be facing administration unless its bank – the Co-operative – agrees to mount a second last-ditch rescue.

In September, the bank made an 11th-hour payment of nearly 800,000 to stave off a first winding-up petition from HMRC but are thought less willing to do so again.