WANDERERS have significantly curbed losses but still saw net debts increase to £172.9million, according to the latest set of financial results.

The club submitted their latest accounts to Companies House yesterday which reveal a massive reduction in losses - £9.1m as opposed to £50.7m recorded in December 2013.

Staff costs have been reduced by £9million. And while exact details are yet to be released, that is likely to mean the wage bill now stands at £28.4m after the sales of big earners such as David Ngog and Marvin Sordell.

The recent accounts take into consideration the club wholly purchasing the Bolton Whites Hotel, having previously operated it in a joint venture with De Vere Venues.

“There’s no doubting that the transition to the Football League, following a sustained period in the Premier League, has been a challenging one,” said in a statement issued by Wanderers.

“Eddie Davies continues to provide a humbling level of support to the football club, and as a wider business we are continuing to develop our non-footballing operations.

“We continue to move towards a self-sustainable future, demonstrated by the club successfully meeting the Financial Fair Play criteria.”