Wilkinson led Wednesday to promotion to the top flight in 1984

Chairman Howard Wilkinson says that Sheffield Wednesday would go into receivership if he and chief executive Nick Parker left Hillsborough.

The pair faced protests from fans after Saturday's 1-0 defeat by Southampton - the Owls' fourth consecutive defeat.

"If Nick and I walk away, and both of us have got a lot of reasons to walk away, the club would be in receivership next week," said Wilkinson.

"That is the end of the road if that happens, or the beginning of the end."

Wilkinson, who managed Wednesday between 1983 and 1988, returned to Hillsborough in January in a non-paid football advisory role.

He was appointed interim chairman in May following the departure of Lee Strafford, who resigned after the Owls were relegated from the Championship.

606: DEBATE Surely it doesn't make sense for anyone to invest when we are that close to administration Florida Owl

Wednesday were handed a winding-up order by HM Revenue and Customs in July over an unpaid tax bill but reached an agreement over the outstanding £1.1m fee earlier this month.

Wilkinson is now working to find investors to help ease the club's debts of more than £20m.

"At the moment we're fighting for our lives," said Wilkinson. "But there are people out there who think like we think.

"How close are we to investment? We're that close. But it's like those miners in Chile. They're told they're going to get out in November, but they won't believe that until they climb out and see the sun in the sky.

"Now I can't tell you anything. All I can tell you is that we'll keep working at it and try to make it happen."

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