Bolton Wanderers are set to go into administration after the club appeared in the High Court over a £1.2m unpaid tax bill, reports BBC Sport.

The case on Wednesday was adjourned until 22 May to allow the club enough time to appoint an administrator.

Administration would result in Wanderers having a 12-point penalty imposed on them next season.

The club will play in League One next season after they were relegated from the Championship this term.

In a statement published while the club were awaiting their case to be heard in the High Court on Wednesday, owner Ken Anderson said administration was the only possible outcome following the collapse of Bassini's takeover bid.

"This has been a massive disappointment to me as I understand the serious implications administration will bring to the businesses," he said.

On (Laurence) Bassini's bid, Anderson added: "Regrettably his continued time wasting and empty promises have caused a great deal of heartache and frustration for the staff and supporters alike and now leave the Eddie Davies Trust and I with little or no choice other than for one of us to place the businesses into administration, as any likelihood of finding any resolution in the High Court hearing is not possible."