HM Revenue and Customs (HMRC) has launched winding-up proceedings against Accrington Stanley Football Club (ASFC) relating to £300,000 owed in unpaid tax and national insurance contributions.

The Lancashire club, which will hear its fate at London's High Court on 10 June, said that continuing contractual obligations with regards to players wages had contributed to its increased level of debt, after a significant fall in income during the 2008-09 season. In a statement, ASFC revealed that the effects of decreasing attendances and the recession were exacerbated by the collapse of main sponsor Fraser Eagle halfway through the season, with the club owed £100,000.

The club was also forced to spend £60,000 on the installation of 1,000 additional seats at its home stadium in order to comply with Football League ground regulations. A spokesperson for the club said: "With the end of the current season we now have the opportunity to restructure the finances of the club, particularly in terms of revising our playing budget, and we are confident that working with our professional advisers we will find a solution to clear the outstanding balance in full."