Airdrieonians have become the first Scottish football club to go out of business since Third Lanark collapsed in 1967.

After two years of uncertainty, the Lanarkshire side have given up hope of finding a buyer and the club has lapsed into full liquidation.

The club's meagre assets are now available for sale, including the club's interest in the Excelsior stadium, a small retail unit and the name of Airdrie FC.

With the club's name available for sale, however, a slim lifeline does exist for Airdrie fans.

The club have debts approaching �3m and no longer have any contracted players or coaching staff.

Spokesman for liquidator KPMG Blair Nimmo confirmed that no bidders had come forward with concrete proposals by Tuesday's deadline.

"There are no bids on the table. The process of selling the assets will begin immediately."

The only way the club can survive is, if the Scottish Football League agree, a buyer resurrecting the club under the name of Airdrie FC.

The club's First Division status no longer exists and the new era would be likely to start in the Third Division.

This, in turn, throws up a number of promotion and relegation issues for other sides.

"If a buyer is found for the original Airdrie FC name, it is conceivable that a 'new' Airdrie FC emerges," Nimmo continued.

"If so, as to whether the 'new' Airdrie FC remains in the league, or is required to seek readmission, is entirely a matter for the footballing authorities.

"We have explored every possible avenue and mechanism for saving the club in its current form.