Lisburn Distillery are to attempt to strike a deal with creditors in order to save the club from going bust.
The Whites are facing a winding up order over a £65,000 rates bill and total debts that amount to some £250,000.
Club shareholders held a meeting last night, at which they supported the board’s decision to enter into a Company Voluntary Agreement, which will see creditors receive a portion of the money they are owed and the club survive.
Players, however, haven’t been paid in six weeks and may now walk out of the club.
COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? firstname.lastname@example.org