Gretna Football Club have begun formal proceedings to go into administration.
A spokesman for the Clydesdale Bank Premier League club has confirmed that an administrator will be appointed this week. The development marks a sorry end to the tiny club's rise from the Unibond League in England to the top flight of Scottish football.
Financial problems at the club first emerged last month when players and staff were not paid. This was explained by the club as an administrative problem caused by club owner Brooks Mileson being ill and in hospital. Gretna officials said that no-one else at the club had authority to sign off the wage bill.
However, Mileson is now out of hospital and the club is still experiencing cash flow problems.
The appointment of an administrator will see Gretna docked ten points by the Scottish Premier League, and with the club already 11 points adrift at the foot of the table this penalty will all but ensure relegation.
Club coach Mick Wadsworth has said he does not know if Gretna would be able to complete their fixtures this season, but the SPL has expressed cautious confidence that the game swill all be played.
Last week, the club played before a record low SPL attendance of 501 in their home match against Dundee United, played at Firs Park in Motherwell where Gretna have had to groundshare this season because their Raydale home ground does not meet SPL criteria.