Bolton Wanderers will enter administration, chairman Ken Anderson has confirmed.
The club, relegated from the Championship this season, were unable to fulfil their fixture against Brentford after players went on strike over unpaid wages.
A notice of intention to place Bolton into administration was submitted on Wednesday at the club's High Court hearing over a winding-up petition brought by HM Revenue & Customs.
Anderson blamed the failure of Laurence Bassini, a former Watford owner, to complete a takeover deal for the decision to put Bolton into administration.
"This had been a massive disappointment to me as I understand the serious implications administration will bring to the businesses," Anderson said in a club statement. "But I have been left with no alternative, as this course of action will preserve the football club and all of its proud history.
"I would like to thank all my colleagues at Bolton Wanderers and Bolton Whites for all their hard work during my tenure as chairman and owner. Whilst it is easy to focus on the negatives, the positives will leave me with some fond memories.
"I wish nothing but the very best for everybody connected with this football club and I have no doubt whatsoever that this great football club will once again stand shoulder to shoulder with the giants of the game."
Bolton, founder members of the Football League, are likely to be served with a 12-point deduction for next season in League One, as well as being placed under a transfer embargo, after going into administration.
