Martin was declared bankrupt at the Chief Insolvency and Companies Court earlier today.
And, in a statement released to the Echo, Schooley offered little sympathy towards the Shrimpers ex chairman.
“It became clear many years ago what a convoluted web of indebted companies Ron Martin had wound Southend United into,” said Schooley.
“It has also become clear what a precarious house of cards his “empire” was.
“Mr. Martin’s shortage of business acumen and lack of ability in his chosen field means this news comes as no surprise.
“The only surprise is how long he’s managed to just about keep his head above water, and stay out of the clutches of financial catastrophe.
“Finally, his misdeeds have angered…