The Blues have been prohibited from signing any new players as a result of Stewarts Law’s winding up petition.
And now a statement outlining the consortium’s next course of action has been sent to the Echo.
“The consortium has been working hard with SUFC staff to ensure that the club operates as normally as possible in the interim period, despite well-publicized delays to the takeover’s formal completion,” the statement read.
“We are currently working to find a priority solution to the unexpected declaration that the club will be subject to a transfer embargo.
“We think it’s crucial to emphasise that the debts that are the subject of the current winding up petition were accumulated in the past, before the consortium ever joined the club.
“Resolving these debts after the takeover is over is still the plan.
In light of this, we stress once more how important it is that Southend Council finish its due diligence procedure as soon as possible in order to give ample notice to all parties involved of our current position before the next hearing.
“We appreciate how unsettling this is for everyone associated with the club and would like to reassure fans of our commitment to resolving it promptly and returning everyone’s focus to preparing for the new season.”
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