ACCRINGTON Stanley have been given eight weeks to find £308,000 owed in taxes — or be forced out of business.

A high court judge made the ruling today after the club failed to pay any cash to the Inland Revenue despite a 12-month payment plan being agreed in May.

The Accrington Stanley Supporters’ Fund has offered to pay the full debt in return for equity in the club, but Reds’ bosses said this was ‘just an option’ at this stage.

Stanley chairman Dave O’Neill and chief executive Rob Heys said the club would now launch a huge fundraising drive, with events at the club and bucket collections around the town, supermarkets and away matches to avoid going out of business.

And Mr O’Neill, who became chairman in June, said he was investigating why none of the cash had been paid, despite the club staging a photocall for the handover of a £25,000 cheque towards a monthly installment.

Peter Shaw, the Accrington Stanley Supporters’ Fund chairman, said the group’s offer to pay the debt was still on the table.

But he wanted answers as to why no payments had been made on the debt after the group donated £25,000 for one month’s payment earlier this summer.

Mr Shaw, 73, heads a committee of 12 fans, backed by businessman and Stanley shareholder Ilyas Khan.

He said: “We want to meet the club and discuss our offer. It is a serious offer and we want to help.

“I’m just glad that the club has got through this hearing and we are fighting another day.

“The backing we have will help to save the club but we are looking for equity in the club in return.

“How much equity would depend on a valuation of the club but we would be looking at putting directors on the board.”

Stanley chairman Mr O’Neill said today’s judgement from the Bankruptcy Court in London was a huge relief as Stanley faced going out of business.

He said: “This situation nearly took us under. We will now ask for the help of all of our fans and everyone who has a soft spot for the club to donate and keep us going.

“The fighting fund organisation is an option for us but at this stage it is nothing more concrete.”

Chief executive Mr Heys added: “We will be collecting with buckets and asking people to be generous.

“We are confident we can raise more than £250,000 in the next two months and that will show the court that we are serious about repaying what we owe.”

Hyndburn Borough Council leader Peter Britcliffe said: “The news is very disappointing, mainly because I, like many others, were under the impression the debt was being paid off.

“If the club wants the public to get behind it and support it then they have to up front and honest about what they are doing.

"If they are then I am sure people will rally round. But it is a huge total to try to raise.”

Dave Gostelow, spokesman for Her Majesty’s Revenue and Customs, said it always made ‘realistic arrangements’ to give businesses time.

But he added: “We can’t discuss the details of the affairs of this club but in general the monies we are pursuing from football clubs has already been deducted from the pay packets of players and other less well-paid employees and should have been paid over to the Exchequer to pay for the services we all benefit from.

“We do everything we can to help viable businesses experiencing difficulties stay in business.”