NEIL Lennon fears Wanderers could be about to hit the wall - just like his former Glasgow rivals Rangers did three years ago.

The former Celtic boss watched with disbelief as the Ibrox giants were swallowed up in the financial mire, entering into liquidation in October 2012.

But he is now enduring his own nightmare at Bolton, as the takeover process shows no signs of a conclusion.

Facing the prospect of players walking out for free in January if they remain unpaid this month, and with the club staring administration in the face, Lennon admits the situation at Rangers actually looked BETTER from across town at Parkhead compared to the one surrounding him now.

“Rangers were in a lot stronger position than us in a footballing sense, although in the end they went into liquidation,” he told The Bolton News.

“It’s not an easy scenario for a manager and it was certainly difficult for Ally McCoist going through that process at the time. Players did get up and go – they exercised their right to go and play in England, and it was their right at the end of the day.

“It’s a scenario I don’t want to contemplate but it could come to realisation and there’s nothing I can do about it. I have no control of it whatsoever.

“People can’t even offer advice to me other than stick with the football.”

If Wanderers’ playing staff are unpaid on December 30 the club would be in breach of contract, and that means a player could give a written 12-day notice period before walking out for nothing.

Back when Rangers hit the wall Wanderers were one of the clubs to profit from the Scottish club’s downfall as they snapped up young winger Gregg Wylde on a free.

Now it could potentially happen to them – although Lennon has confirmed that no player has yet confirmed they intend to leave.

“It would be within their right to do that,” he said.

“We have talked about it but no-one has yet indicated to me that it’s what they are going to do.

“That might change, I don’t know. It’s not ideal but we try and put it on the back burner – we haven’t got time to think about these things.

“We’re all in the same boat. I’d like to think it can be resolved and that people would stick around to see it through.

“We have important games against Charlton and Fulham. We have to win them to stay in touch.”