CHARLTON are reeling from the loss of official club sponsor all:sports who have gone into administration.

The Addicks were in the fourth and final year of a sponsorship deal with the sports retailer who are believed to owe the club £650,000.

The announcement, which was made on Monday, came as a colossal blow just two months into the new season with Charlton flying high in second place in the Premiership after their best start in the top flight.

Charlton chief executive Peter Varney said: "We’ve been aware for some time that all:sports, like so many other high-street retailers, has suffered from a steep decline in business.

"Behind the scenes, we have been working hard to try and protect Charlton Athletic’s interests in this matter.

"Now an administrator has been appointed, I will make contact with them to try and establish the exact position of the company, and how this is likely to affect the club going forward.

"Once I am in possession of more facts and information, I will hopefully be able to make a further statement."

Fearing the worst, Mr Varney and assistant Steve Sutherland flew to the Far East during the summer to seek possible successors.

The club are now left with the dilemma of whether to retain the all:sports logo on their shirts – having sold thousands of replicas – or woo a successor who would rightly demand an immediate re-branding of all merchandise, rendering existing shirts obsolete.

Meanwhile, Football Association chief executive Brian Barwick was at The Valley on Tuesday for a meeting with Mr Varney to discuss the success of Charlton’s community programmes and the cut-price Valley Express coach service which brings supporters to home games from all parts of Kent.* FOR ALL THE LATEST NEWS FROM THE VALLEY SEE THIS WEEK'S BEXLEY EXTRA.