Bolton Wanderers have been issued a winding-up petition over an unpaid £5m loan, BBC Radio Manchester reports.

Finance company BluMarble lent Dean Holdsworth's Sports Shield the money to complete a takeover with chairman Ken Anderson's Inner Circle Investments.

However, in March, Anderson bought former Bolton striker Holdsworth's shares to become the majority owner of the League One club.

A High Court date has been set for 22 May.

Bolton have said they are aware of the proposed action, but stated it was a matter for Sports Shield and would not comment further.