STIRLING Albion will be forced into administration by HM Revenue and Customs if they fail to make good on thousands of pounds of unpaid tax.
A first notice of petition to recoup a reported £41,000 from the Irn-Bru Second Division side was agreed at Stirling Sheriff Court this week.
The news comes 10 days after fans launched a campaign to buy the cash-strapped club.
An HMRC spokesman
told PA Sport: "An application for a winding up order is the last resort.
"There is always ample opportunity for any business to clear their debt."
The club reportedly have until next Thursday to respond to the order.
The spokesman added: "There is still the scope for any business to pay off their debt prior to the winding-up order being granted.
"If payment isn't made by the date the court has set, winding up will take place."
Stirling Albion owner Peter McKenzie has previously given his backing to plans by supporters' group BuyStirlingAlbion to make the team Britain's first 100% fans-owned club.
Membership costs £40, with the Trust aiming to recruit 20,000 members.
Those who purchase membership will not be a shareholder in the football club but will be a member of The Stirling Albion Supporters Trust, who will be the sole shareholder in the football club.
Paul Goodwin, who is helping spearhead the campaign, said a thousand fans had already bought a stake in the scheme along with 30 businesses, who had purchased a £75 stake.
He said: "This news reinforces how serious the situation at Stirling Albion is.
"It's hand-to-mouth at the club. This is a strange situation for us because if the club went into administration we could bid to take it out of administration but we have to wait and see what happens."
Stirling Albion, nicknamed the Binos, were founded in 1945.
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