Bolton Wanderers owner Eddie Davies has insisted that the club "will survive" after being handed another reprieve in their battle to avoid going into administration.

The High Court today gave the club a two-week extension to pay a £2.2m tax bill after "significant progress" had been made in Davies's attempts to sell the club.

A consortium fronted by former Bolton striker Dean Holdsworth has agreed to buy the club, and Davies is confident that the deal will be completed this week.

"We said we would survive and we will survive. We've worked very hard - us, the club and consortium to get this one over the line," Davis told Sky Sports News.

"There's been a lot of speculation in the local press and lot of criticism but we've worked very, very hard to do this and it will be done this week. We've had to go through the process. There are still i's to be dotted, t's to be crossed by the consortium, and when that's done we will do the transaction.

"They've definitely got the funds to see it through to end of season and are currently securing funds to take them through to the end of next season."

Bolton currently sit bottom of the Championship table, 10 points from safety with just 11 games remaining.