Bolton have avoided administration after agreeing a deal to pay off their main creditor, chairman Ken Anderson has announced.
Anderson had warned the Championship club faced administration after an initial offer to repay BluMarble Capital Ltd was rejected.
But he issued a statement on Wednesday afternoon which read: "I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.
"I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club.
"I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5million."