McDonald considered resigning after their humiliating 6-0 home defeat by Coleraine in early November.
"But I carried on in the job after having a good heart-to-heart with the players. They assured me that they would knuckle down and give it 100 per cent.
"In hindsight, that hasn't happened as you look at some of the results and some of the performances.
"I'm a very passionate and honest person. I look at myself and certainly there was nothing more I could have done."
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