Macclesfield Town have been wound up after a judge was told the football club owe more than £500,000.
Judge Sebastian Prentis made a winding up order at a virtual hearing in the specialist Insolvency and Companies Court on Wednesday.
He was told the club owe nearly £190,000 in tax and more than £170,000 to two other creditors.
Lawyers representing HM Revenue and Customs had applied for a winding up order.
The judge said he could see nothing which gave him “any comfort” that the club can pay the debts.
He was overseeing the latest in a series of hearings.
Sad news. My home team Macclesfield Town FC wound up in High Court over £500,000 debts – first of many clubs to go under I fear https://t.co/gUc6W6dXoi— Nick Robinson (@bbcnickrobinson) September 16, 2020
Macclesfield have recently been relegated from the fourth tier of league football into non-league football.
They were relegated after being docked points for breaches of regulations relating to non-payment of wages and dropping to the bottom of League Two.
Last year bosses suggested Brexit is hampering their ability to clear club debts.
A judge analysing the case that bosses were waiting for “international payments” to come through, which could have been impacted by Britain’s decision to leave the union.
Awful news for English football. Macclesfield Town have been wound up over debts of totalling around 500k. 146 years of history, gone. Very sad!— The Away Fans (@theawayfans) September 16, 2020