WANDERERS have flatly denied suggestion in a national newspaper that the club could be poised to slide into administration.

A report released on Friday night suggested some staff at the Macron Stadium are actively looking for new posts because of impending job cuts.

Furthermore, it was claimed the topic of administration had also been discussed, prompting the club to release an official statement on Saturday morning.

“Whilst the club acknowledges it is going through a challenging time, there have been no threats to any staff jobs in the immediate future,” it read.

“After consistent backing from owner Eddie Davies, the club continues to seek fresh investment in what is a difficult and challenging economic climate.”

Accusations in the article were passed off as “scaremongering” by senior sources at Wanderers, with little credence given to the notion that club owner Eddie Davies would put the club into administration, effectively surrendering any resale value on his investment.

The Isle of Man-based businessman was present at Saturday’s 0-0 draw with Bristol City and is still actively seeking a new buyer to take the club forward, with a reported asking price of around £30million.

Sources at the Macron also scotched the idea further job losses were on the cards, given the number of posts that had already been shed over the last few years.

Wanderers have lost more than 60 non-playing staff since dropping out of the Premier League and have had to reduce costs considerably over the last 12 months as financial input from owner Davies decreased.

Levels of debt to Davies have now risen to more than £180million, with the club confirming earlier this year that a short-term funding deal was agreed with a finance company in lieu of an overdraft facility.

While plenty of questions are yet to be answered about how Wanderers will continue to fund themselves in the short to medium term without new ownership, the club has denied categorically that such drastic measures as administration are currently being considered.