Birmingham City have been handed a transfer embargo by the Football League.

The Championship club failed to meet a league deadline on March 1 where they were required to submit financial statements up until June 2011 and can no longer sign players in or out until the embargo is lifted.

Manager Chris Hughton, whose Birmingham side sits fifth on the second tier table, was still looking to bring in some players on loan but will now have to forgo that idea as he looks to win promotion back to the Premier League.

"Birmingham International Holdings Limited is expected to publish the financial statements by the end of April 2012," read a club statement.

"The delay in filing the financial statements is occasioned due to the delayed audit processes, with both the club and the group holding company having to handle a series of audit issues, together with the financial issues thrown at the club due to the arrest and freezing of the assets of the club's main benefactor and changes to banking arrangements.

"This short period of delay in submission and the resulting transfer embargo, does not affect the business of the football club at this present time.

"Having captured the signatures of several more players in the last couple of weeks, the club is satisfied with the strength and size of the playing squad, which has been sufficiently reinforced to assist with our end of season push."

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