Southend United say they have avoided a winding up order.
The club was due to go to the High Court on March 30 after being served another winding up order by London law firm Dechert LLP.
However, the club has released the following: "A winding up petition has been issued relating to an old disputed bill.
"An agreement has been reached and the petition will be dismissed."
Last night, the Blues suffered a severe setback in the League Two title race, blowing a goal and man advantage away at first-placed Burton Albion.
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