Nuneaton Borough will drop down two divisions when they go into liquidation, according to the club's new chairman Ian Neale.
In a statement on the Blue Square North outfit's website Neale said: "This decision has not been taken lightly.
"There was every likelihood that the club could have folded and there was a serious prospect of Nuneaton losing its football club."
The club appear likely to end up in the BGB Southern League Midlands Division.
Boro have racked up debts of around �1m, with a further �900,000 owed in capital gains tax.
Neale added: "The directors have spent several weeks exploring every option available to them but have accepted professional advice from insolvency experts that there is no alternative but to liquidate the club's assets.
"Detailed discussions have been ongoing with the Football Association to determine the future of the club.
We have no choice but to move out of the Football Conference
Nuneaton chairman Ian Neale
"We are still awaiting clarification as to which league Nuneaton Borough will be playing in next season but it is likely that we will be dropping two divisions and will be members of the Football Association Southern League Midlands Division.
"We have no choice but to move out of the Football Conference.
"Their regulations stipulate expulsion from their leagues whether a club goes into administration, a Company Voluntary Arrangement or liquidation."
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