restructuring

But the Lewis family - who effectively own Tottenham - was intent on restructuring at boardroom level following an external audit of the club which started in mid-winter.

Last month, fashion chain River Island said it would close 33 stores in a restructuring move after struggling with high costs and multi-million pound losses.

Among the restructuring plans were financial terms for the departures of five officials at a total cost of £1.035m.

In his submission, Mr Smith said that the company is currently due to pay back £276.5m in loans by 1 September, which would be pushed back by three years under the restructuring plan.

It has also started work on restructuring two-tier council areas, those with both county and district councils, to become unitary authorities.