BBC Hereford and Worcester interviewed Chris Brady, a professor at the Centre for Sports Business at the Salford Business School yesterday.
Brady, the author of several books on sports finances and management, told the station that the club was probably better off being liquidated: "From what I've looked at of the accounts, Administration is not the best way to go. Probably liquidation is the best way to go and then start from scratch.
"If you go into Administration you're effectively saying 'with a bit of help the business can survive' so we're going to put an external Administrator in to manage that business through the next stage.
"You lose 10 points, drop down into the relegation zone, but you still continue to exist as the same organisation.
"If you liquidate the club ceases to exist, but the physical components don't cease to exist. You've still got the ground, the stands, the people. You have to re-apply as a football club as 'Hereford 2014' or whatever. Now there's a new entity that exists with no debt. That's the point.
"With Administration you have to pay off all your debt as much as you can, even if it's 5p in the pound. (in the Conference it's 100% - Ed) With liquidation the debts go away. You might have to start two or three divisions further down and build up slowly.
"That seems to me, the situation Hereford are in, where they may end up."