Nick Dargan, the administrator working at Town for Deloitte and Touche, says that talks are continuing with the Blues' creditors.

Dargan told the club site: "We have been working closely with the Club's management to develop business plans that can be delivered on either promotion to the Premier League or the Club remaining in Division One.

"Obviously, the actions required are markedly different depending upon which scenario becomes reality.

"Our aim is to achieve a better return for creditors via a Company Voluntary Arrangement (CVA). The alternative would be a sale of the business and assets which, in most other football club administrations, has resulted in no return whatsoever for the ordinary trade creditor.

"However, to achieve this aim, we require the support of the major secured creditors and the approval of Crown creditors."

The CVA requires the approval of 75% of creditors based on value.

Dargan says that all creditors have been spoken to by the administrator and initial presentations had been given to some of the major secured creditors with more planned for next week.

How long Town will remain in adminstration depends on how well discussions with the secured creditors go over the next week or so.

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