The latest takeover deal to buy Bolton has collapsed with administrators warning the “process of closing down the company” could begin on Wednesday.
The club has been given until 17:00 BST on Tuesday to complete the sale or offer reasons for an extension, or face expulsion from the EFL.
Administrators say the club is currently not in a position to carry on trading.
That would lead to its liquidation and the loss of over 150 jobs.
Paul Appleton, joint administrator for Bolton Wanderers, said the deal collapsed on Saturday, and despite working around the clock they are still some way from reaching a solution.
He said in a statement: “Unless there is a change of position from any of the parties involved, the process of closing down the club and ultimately placing Bolton Wanderers into liquidation will begin this week.”
More to follow.