The Nationwide Second Division team has entered administration while it continues discussions with local councils. Paul Finnity, John Kelly and Gurpal Johal, partners at Kroll Buchler Phillips, have been appointed by the High Court.
A club statement, said: ‘Unfortunately, following the failure in its attempts to renegotiate its long term debt, Notts County has been placed in administration in order to provide it with protection whilst it seeks to resolve its financial difficulties.
‘We are confident that Notts County can be saved without recourse to player redundancies. We are hopeful that we can secure the future of this club in time for the start of the new season, ensuring players and supporters alike are able to look forward to a more positive future.’
Rival clubs including Bury and Bradford have also recently entered administration, while Queens Park Rangers have just successfully emerged from an administration order.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children