Independent Leyton Orient Forum

Ok, so have just been watching this again. Wallace has decided not to buy us but Tony Wood says that he 'demorolised everybody' and Angel Motors changed their attitude.

It was only when I was a kid and a time I didn't follow Orient. Does anyone know what occured?

Wallace said he was told the books were financially sound, he took that to mean we had money & no debt-loss. When he saw the books he legged it. Thats how I rember it being reported at the time.

Wallace knew this was a basket case and that it was skint. It was evident from everything happening. He knew he was going to have to dip into his pocket but had decided he was on board with the club operating on more of a non-league basis. He said as much at the LOSC meeting called to "introduce" him. He spoke a lot about downscaling and the club living within its means (so the opposite to the prior decade). It was never really clear why he pulled out but at the time Lamex was just a cash and carry operation near the Crooked Billet. I think he realised he was biting off more than he could chew. The fact that he eventually settled on Boreham Wood, before the jump to Stevenage, bears this out.

Looking at Stevenage today I think we dodged a bullet with his pulling out - even if we ended up getting hit 20 years later with a cannon ball.