Hatters placed into administration

Struggling League One outfit Luton Town have been placed into administration.

Insolvency specialists, The P&A Partnership, confirmed the news on Thursday evening after the club's directors were advised the Hatters could not continue functioning in their current state.

P&A Partnership spokesman Brendan Guilfoyle said: "Administration will give the club breathing space and an opportunity to restructure its finances.

"Our aim is to maximise the value of the company's assets and to place the club on a firm footing for the future."

More than 50 charges were levelled against the club, former and current club officials and six agents by the Football Association regarding payments to agents last week, and directors John Mitchell and Richard Bagehot stepped down yesterday.

With administration comes a 10-point deduction, which will see the Hatters drop down to bottom place in the Coca-Cola League One table.