Why did Arsenal go into liquidation?

Why did Arsenal go into liquidation?
 
Just over 100 years ago Arsenal FC (then known as Woolwich Arsenal) teetered on the brink, and toppled into administration.   There were four separate buy-outs, the last of which saw the club purchased by Henry Norris, who also owned Fulham FC.
 
The question is why did this happen?
 
One hundred [...]
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