Southend have avoided a winding-up order but could fall into administration next week.
The League One club were due in the High Court on Wednesday over a tax bill of £690,000, but HM Revenue and Customs have now postponed a hearing until next week.
"The club were advised that HMRC have changed their position and are now seeking an administration. As such HMRC are postponing the hearing to allow the administration to be considered on Wednesday, November 4 - a one-week delay," said chairman Ron Martin.
"This is not a viability issue, for the financial planning is very sound, but we have needed time to overcome the banks' inability to lend since their collapse in the summer of 2008.
"Prior to this everything was on track and it has taken the year to get back to our advanced position.
"Therefore HMRC's hostile action is not only unwelcome but also destructive.
"We are not looking to escape any debts (indeed we wish to ensure we pay in full) and will be able to, given a further short respite, settle the indebtedness."
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Let HMRC solve the problem by restructuring the debt.
The Government has managed it with the Banks, and I'm sure HMRC will do it with the 'sticky fingered' MP's, if and when they are brought to account ??
Some money coming in , is better than none.
Please don't let the mighty blues fall into administration! It's a hard enough task staying in any league and indeed getting people to go to the ground on match days without having that hanging around the necks of the powers that be!! Let alone the 10 point deduction! Come on Ron Martin, sort it out for all the loyal SUFC fans all around the world! ................Simon in Spain.
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