It added that the board would make a further statement in due course.

ICT are currently seeking £200,000 to avoid administration in October, with a crowdfunding website set up to meet that target currently sitting at just over £86,000.

Losses ran to £1.2m last season and a similar loss is forecast for this term.

However the club have warned that figure would not include money spent on restructuring following relegation from the Championship last season.

Manager Duncan Ferguson is working for free to help the club save money, and earlier this week said that his squad have had discussions with the players’ union PFA Scotland amid the uncertainty.