Jim Leishman said last night that hopes of a rescue package for Dunfermline are dwindling and that administration looks increasingly likely.

The due diligence process has been completed and the consortium of fans and local business people trying to save the club will receive a report today, but Leishman said some of the potential investors had "expressed concerns".

Herald Sport revealed yesterday that the Dunfermline directors are seeking administration to protect the club from liquidation. A winding-up order has been served on behalf of Her Majesty's Revenue and Customs over a £134,000 tax bill and if it is not paid by 5pm on Monday a liquidator will be appointed.

"The administration option is up to Gavin Masterton [the majority shareholder]," said Leishman, the club's director of football. "We are not in control of that. Gavin has to come to a solution he thinks is right for the club."

Working capital would still be required to keep Dunfermline going through administration, even with radically cut costs, although Herald Sport understands one potential source of external funding exists. Leishman added: "We had investors in place but they have expressed concerns and we have been trying to answer their questions. We have to get the green light from the due diligence, but that might be too late now. I thought we were making great progress but something crops up and you take two steps back – but you keep fighting on for the football club: this is my passion, my second home."

The players have been talking to the Professional Footballers' Association Scotland about their rights, should Dunfermline be liquidated. They would not be able to sign for other clubs this season after March 31.

"The players have taken legal advice from the union and that is quite right, because there is huge concern over their future," said Jim Jefferies, the manager.

"If this club was to go to the wall then these boys would not be able to play for anyone else until next season. They have already struggled for months and there is no sign of the rest of February's wages but their concern is ahead. How will they earn money through the rest of the season and the summer?