CREDITORS of Bury FC have asked for more time to consider a rescue plan for the newly-promoted club.

The Gigg Lane club is in the midst of a financial crisis and saw a winding-up petition over unpaid debts adjourned at the High Court in June for the third time in as many months.

The financially-stricken Shakers were given six weeks to sort out their future, prompting owner Steve Dale to try and settle the club’s debts via a company voluntary arrangement.

However, a decision on the proposed CVA, which would ensure Bury's survival, was adjourned at a meeting of the League One club’s creditors today.

Steven Wiseglass, a director at Inquesta Corporate Recovery & Insolvency, who is the nominee for the proposed CVA, said: “The creditors have adjourned their decision pending further negotiations and are scheduled to meet again on Thursday, July 18.

“We continue to work closely with the club, its director and the creditors to try to ensure a successful outcome.”

If creditors had agreed to the deal, then the Shakers would face a 12-point deduction having returned to League One with promotion last season.