The administrators of Rangers FC have told staff at the Ibrox club that Paul Murray’s Blue Knights consortium may consider liquidation as a ''last resort''.
At a meeting on Monday afternoon, Duff and Phelps are also understood to have told staff that a preferred bidder is expected to be named within the next 24 hours.
The administrators also said there is enough money to pay staff until the end of May, by which time a takeover should be complete, and the two bids on the table to buy the club - from American businessman Bill Miller and the Blue Knights - are inching closer to a conclusion.
However, the administrators are thought to have stated the bids of Mr Miller and the Blue Knights - headed by former Rangers director Mr Murray - remain unacceptable at the moment.
While it appears that Mr Murray's consortium would consider liquidation and coming back as a newco as a very last resort, the former director has also insisted the Blue Knights are totally focused on achieving a CVA (company voluntary arrangement) at the club.
The developments come as the Blue Knights and Brian Kennedy claim to have put in a revised bid for the club.
Meanwhile, on Monday, a meeting over new financial fair play rules for the Scottish Premier League - which could have further ramifications for Rangers - has been adjourned, with clubs requiring further "clarity" over the proposals.