Bollton Wanderers manager Neil Lennon has left the struggling English second-tier club just days after it was taken over by former striker Dean Holdsworth.

The north-west side are bottom of the Championship and 11 points adrift of safety following Saturday's 2-1 home defeat by Preston North End.

Wanderers have won a mere four league games so far this season and former Celtic manager Lennon leaves with just 18 victories from 80 matches in charge of Bolton.

"Bolton Wanderers can announce that the club have today, Tuesday 15 March, parted company with manager Neil Lennon by mutual consent," said a club statement.

"All at Bolton Wanderers would like to thank Neil for his contributions during his time at the club.

"Academy manager Jimmy Phillips will take charge of the first team on an interim basis."

Bolton travel to Bristol City on Saturday after a Holdsworth-led consortium, Sports Shield Group, completed a takeover on Friday.

The club have been in dire financial trouble and last week it needed a third intervention from a High Court judge to prevent British tax authorities carrying out a winding-up petition.

Holdsworth, now Bolton's chief executive, did not give any assurances regarding Lennon's position and the former Northern Ireland international has now exited with the club on a seven-match winless run and yet to enjoy an away league victory this season.