Struggling East London-based League Two football club Leyton Orient has been issued a winding-up petition by HMRC
The petition was issued to the club on 2 February, with a High Court hearing set to be held on 20 March 2017.
In its most recent financial results, for the year to 30 June 2015, Orient puts its book value, the net value of the company running the football club, at -£5,512,449, meaning the club had debts exceeding its assets of more than £5.5m.
The club is enduring a difficult season, mired as it is in the League Two relegation zone, second from bottom and in danger of dropping out of the Football League altogether. A 4-1 defeat to Stevenage on Tuesday evening (28 February) left the team six points from safety.
Club president Francesco Becchetti said in January he would consider selling his 40% stake in the club, which he acquired in 2014.
HMRC is the principal creditor, but it is possible other creditors could join the action.
Leyton Orient Football Club has been contacted for comment.
