The new Reynolds Arena opened last year

The struggling Third Division club - with debts of more than �1m - called in administrators in December to protect it from an Inland Revenue winding-up order.

Millionaire chairman George Reynolds has blamed Darlington Borough Council in part for the crisis.

He said council bosses had refused to allow the recently-built �25m Reynolds Arena, to be used for alternative events, such as car boot sales and concerts.

He said he regretted the decision to call in administrators, but could no longer keep pouring cash into a "black hole".

Only one individual has offered to waive debts in an effort to help the club survive David Field

Dave Field, a partner in insolvency firm Wilson Field, which is acting as administrators for the club, said it was still hoping a buyer for the business could be found.

A consortium made up of local businessmen and the club's supporters trust, is among those interested in taking over the loss-making operation.

Mr Field said: "We hope to know by the end of the week exactly who is in a position to bid for the club.

"At the moment we have had less than half a dozen people come to us and express any kind of interest.

"It was a loss-making company when we were brought in and gate receipts are still not brilliant.

"We are talking about �1m in unsecured debts, which involve items related to the construction of the stadium, as well as others to do with the day-to-day running of the business.

"Up until now, only one individual has offered to waive debts in an effort to help the club survive."

Mr Field said a recent meeting with officials from Darlington Borough Council had been "constructive".

The authority said it had tried to help the club in the past.