Plymouth's Administrator has failed to agree a deal with one of the club's bidders to provide interim funds.
Administrator Brendan Guilfoyle wanted to announce a preferred bidder yesterday but none of those bidding were prepared to fund the club during Administration to the level needed by Guilfoyle. He needs around £3million in funds to keep the club operating and will be forced to shut up shop if a deal is not struck.
Guilfoyle has given staff an ultimatum - work without pay or see the club close. The office staff have agreed to the move that will see them without pay for March and April, while the players have agreed to deferring March's wages and are likely to accept a further deferment for April with the PFA providing loans to cover part of their wages.
While the players are likely to receive their full wages eventually - as a football creditor - the other club staff are not so well protected and could be forced into accepting a fraction of their owed wages in any deal struck by Guilfoyle.
The Pilgrims do have some money coming in after agreeing to sell teenager Jack Stephens to Fulham for £175,000. The 17 year old versatile defender has played four times for the first team at Home Park.