FORMER Northwich Vics chairman Mike Connett’s debt-ridden company Beaconet has been given a stay of execution, after a High Court hearing to decide whether it should be wound up was adjourned for a second time.

Beaconet was due before Mr Registrar Simmonds today, Wednesday, when a winding-up petition brought by Bank of Scotland over a five-figure debt was due to be heard.

But the hearing, initially put back from November, was adjourned again.

It gives Beaconet the green light to keep on trading from the Marston’s Arena. But Connett was at the ground yesterday, Tuesday, clearing out his offices ahead of the hearing this morning.

Finance firm Deloitte Touche are still trying to sell the nine-acre Wincham site which the Marston’s Arena sits on, after seizing it from Beaconet late last year.

They plan to recover the £1.2m owed by the company to Clydesdale Bank in unpaid tax.