THE sad demise of Bury Football Club will be subject to a full investigation from the EFL, insists interim chief Debbie Jevans.

Following the incredible collapse of a takeover on Tuesday, the Shakers were ejected from the league, ending a 125-year stay in the competition.

The C&N Sporting Risk group – who dropped their bid hours before the EFL’s deadline – have now said they would share the information they uncovered in due diligence to help the league with their inquiries.

Of particular interest to Bury fans will be the multilayered debt built up by previous owner ­— Blackburn property king Stewart Day ­— and secured against Gigg Lane.

Jevans refused to go into detail on what matters would be examined or whether any investigation would be carried out by an independent body. But with thousands of Bury fans now demanding that the authorities look into the matter, she accepts there will be pressure to produce an answer on what went wrong.

“Recent decisions at Bury, no question, have caused a number of people significant financial distress and clearly we do need to look at those and those matters do require further investigation,” she said.

"What I have said is that this situation has happened and we have committed that we will do an investigation, I can’t name individuals now, of course I can’t, and we have not received the information and due diligence that C&N Sporting Risk have undertaken.

“I know what they have said publicly and they have said that they will share that detailed due diligence with us. We will take that and then we will consider what we are doing to do. I’m not trying to bat this back, we need to receive that information, the board needs to sit down and look at it, and then we need to do the necessary investigation of course with the clubs.”

The EFL’s decision to withdraw Bury’s golden share means the club will have to reapply lower down the football pyramid and will not now be playing competitive football until next August.

Jevans confirmed there is no room for compromise.

“There’s no appeal process,” she said. “It is within people’s rights to write to us, we await any correspondence, should it arrive.” Jevans insists “every available option” was examined by the EFL board before it gave its decision late on Tuesday but laid the blame firmly at the door of controversial owner Dale, who, she claims, was an unwilling seller until the last possible moment.

“A number of people were asking him ‘why don’t you sell the club?’ It was his (Dale’s) choice not to. At the end of the day, it was his choice not to sell.

“All we can do is work with Bury FC expulsion the power we have to find a solution. The EFL doesn’t run football clubs; it can work with the owners to give them all the options, which is what we did.”

The EFL chief, who took over from Shaun Harvey on a temporary basis this summer, believes the league gave the Shakers ample time and leeway to get themselves out of trouble.

“Once the CVA was approved, we didn’t issue the notice of withdrawal,” she said. “At that point, there should have been two years proof of funds given to us.

We amended that to one year to work with him and give him options.

“People said to him, ‘why don’t you sell it?’ He didn’t want to sell. And then on Friday, he said ‘I’ve accepted an offer from C&N Sporting Risk’. So we worked with them, even though the deadline was passed. I don’t honestly know what more we could have done.”

Bury became the first club to be expelled from the league since Maidstone United in 1992.

It is likely the prize and TV money which would have been due to the Shakers over the next 10 months will be shared between clubs in League One to compensate for the loss of earnings on a cancelled home game.

League One will continue with 23 teams this season, with three relegation places, and return to 24 when four teams are promoted from League Two in May 2020.

“I feel devastated, sad, any number of adjectives, because this isn’t a situation that has arisen over the last 24 hours,” Jevans added.

“This has been constant work, rightly, for weeks and months, numerous conversations with the board and Mr Dale trying to find solutions.

“So, yes, devastated, no other word for it. I understand what I’ve heard the fans say. It’s very sad.

“But that decision was made, the share has been revoked and is now with the EFL.”