Yeah, they are funded by RBS, who themselves are struggling.
The £300m should have been refinanced in January, but RBS gave them another six months to refinance. I doubt they'll have anything in place so will be subject to penalties / an interest hike.
When they bought Liverpool they had plans of building a new stadium, but finance was a lot easier to come by a few years ago. It would seem they will have to sell an asset. I wonder if Man City are circling?