ACCRINGTON Stanley was left £42,000 out of pocket after the collapse of its shirt sponsor, it has emerged.

Stanley bosses have been forced to write off the debt after Rishton-based Combined Stabilisation was put into liquidation by chairman Andrew Thorpe.

A report filed at Companies House reveals that soil stabilisation specialist Combined collapsed earlier this year owing almost £1.8million to unsecured creditors, including almost £500,000 to the taxman.

And liquidators have just £13,000 to share out, meaning those owed money - including Stanley - will be left almost penniless.

Stanley, which was in the final year of a three-year shirt sponsorship deal with Combined, has since signed a contract with Clayton-le-Moors-based IT business Cleverboxes.

Chief executive Rob Heys said: “It is in the past now. It did cause a problem when it happened but we are through that now.

“We had help from our major shareholder, Ilyas Khan, and we have moved on.

“We have got Cleverboxes signed up and we are delighted about that.”

The liquidators’ report, compiled by experts at Manchester-based Mitchell Charlesworth, reveals that assets worth £48,000 were left after the collapse.

With 38 staff salary claims totalling about £35,000, it leaves just £13,000 available to unsecured creditors.

Among those out of pocket like Stanley are HM Revenue and Customs, which is owed £463,000 in respect of pay-as-you-earn, VAT and national insurance payments.

Meanwhile, Bolton-based Silverburn Finance, which buys invoice debts from companies, has a claim worth £370,000, according to the report.

Former investment banker Mr Khan saved Stanley in 2009 after pumping in tens of thousands of pounds. He completed his takeover of the club earlier this year.