The club will not be going into administration as they would lose Craven Park which is, believe it or not, a very valuable asset (approx £4M). The new BOD have already stated that the debts will be re-structured and paid off over a longer term (10 years) - ie mortgaged against Craven Park.

The option I would look into would be to sell Craven Park, pay off the debts, bank a few bob and buy into groundshare with Barrow AFC - either at a new stadium or refurbished Holker Street (BAFC). As you can imagine, the groundshare issue is a bit of a hot potato - especially with our Wendyball friends.

It may be seen by many as a ehole, but Craven Park is an asset that secretly most Championship and Championship 1 Chairmen would love to own. The new BOD at Barrow have actively backed the ground develoment fund over the last 18 months (something that DJ didn't) so you'll find that even if a groundshare doesn't come about in the short/medium term, the old girl that is Craven Park will get knocked into shape with increasing speed.

If you fancy ground sharing, don't refer to football as "Wendy Ball"
They don't like it.
They much prefer "girlies game"

Which is why I said it was an asset you could easily borrow against to buy yourselves time to sort out the current problems

Which is why those debts will not spell the end of BRRLC

Nowt wrong with CP ( apart from the floodlights

) IMO , it serves it's purpose , more important owning an asset ( well most of it ) that can generate income at our level , than having stands full of empty seats

I along with most Leigh and Championship fans wish you well for the future , a strong Barrow Raiders is a needed commodity in the Championships , all the best

I have said on a number of occassions that I wish Barrow well.
I would like to see them in our league, I always enjoy my trip up there and like the Wetherspoons up the Rd.
So I am not being negative on purpose.
But, as to the ground being an asset?
Someone mentioned a £4m asset?
Who would lend against that asset?
The more you borrow the higher the repayments.
Players wages, o.k not too much this year unless, because promotion is a must better players are brought in, but, crowds will be down, revenue will be lower. Still the same outgoings as before.
So the Bank Manager will ask If I lend you this money against your "asset" how do you intend to repay it.
I'm not too sure about the answer.
Once you borrow against an asset and can't repay it's no longer an asset.

My advice would be only sell the ground as a last, last, last, death's door resort. Once you've sold it once then that's your lot - see Leigh, Swinton, Doncaster etc for reference.