IT’S administration or nothing for Wanderers on Wednesday after Laurence Bassini’s bid to buy the club finally ground to a halt.

The former Watford owner has tried in vain to secure extra financial backing in the last few days in order to satisfy the demands of the EFL.

Now Wanderers face a winding-up petition at the High Court from creditors including HMRC and sportswear firm Macron where, unless preventative measures are taken, they could be liquidated.

Bassini effectively gave up his chase tonight, telling Sky Sports: "I have tried to have conversations with HMRC and others in an attempt to prevent tomorrow's court proceedings going ahead and risking the club's future.

"Ken Anderson is not sticking to the agreed deal and my hands are tied as a result, it's very frustrating, I am trying to save this club but it looks increasingly like administration will happen".

Wanderers’ case will be heard after 10.30am, followed by another winding-up petition against the Bolton Whites Hotel.

Both actions could be nullified if the club goes into administration prior to the hearing or files a Notice of Intent to the court, although a judge could theoretically still decide to liquidate if they felt there was a better chance of creditors being paid.