Kidderminster have announced that their proposed takeover has collapsed at the last minute.
After announcing late yesterday that they had reached agreement with Chris Swan on the takeover, and that it would be completed this afternoon, the club have announced that Swan was 'unable to reconcile fundamental issues' and had withdrawn his bid.
Swan himself told the local press last night that the chances of completion were 'less than 50 percent', adding that the taxman had issued a winding up order against the club for £75,000 that would be heard on Feb 23rd.
Kidderminster wasn't the only club Swan has been eyeing, with Redditch chairman Ken Rae confirming talks with the Warwickshire businessman. Rae's decision to slash the wage budget came after Swan had apparently reached agreement with the Harriers.
The Kidderminster statement also says the club will seek legal advice over it's next step. A second consortium, fronted by their former main sponsor, is reported to be preparing a bid but it is currently unclear quite how fast they can act with the wage bill still to be paid after a loan deal set up to cover it stalled after current chairman Mark Serrell was taken ill.