Chief executive Graeme Muir insists everyone at Gretna is trying to safeguard the club's future but admits there are difficult times ahead.Crisis meetings will take place on Friday with director of football, and caretaker manager, Mick Wadsworth revealing on Thursday night that he fears the Borders outfit may not survive the season.
Although the players have been paid following a delay last month, no money is forthcoming from ill owner Brooks Mileson, who was discharged from hospital last month after being hit with a brain infection.
Muir told Sky Sports News: "We keep battling away and we're fighting the fight but it's a difficult time. Gretna's not telling any lies but that's the situation we're facing.
"The payroll is up to date but we've also got a batch of creditors that need paying as well.
"There's other problems on the financial side. In the last 18 months, with Brooks Mileson, Mick Wadsworth and myself, we've actually reduced the payroll to something a bit more sensible, but we're just hoping it's not too late.
"So we have been working away at making Gretna a bit more viable, we have made steps to improve the situation."
Thursday night's game against Dundee United attracted a crowd of just 501 - the lowest ever for an SPL game - and Muir conceded it was almost impossible to survive on such attendances.
"No, you can't," he said. "But there are two teams at a game. The other team are vying for a UEFA Cup spot and they didn't bring many either.
"Then again, we only had 48 hours to arrange that game so did anybody really know it was on?
"The only way to go ahead for a club like Gretna, with a small population, is to do exactly what we have been trying to do and that's to have a leaner, meaner, smaller - but better - squad and have players of value.
"We played in the (Scottish) Cup final but we didn't get one offer for one player so, although we were in the cup final and in the UEFA Cup, you could say that we had no value in the team because we didn't get an offer.
"However, in the last few months, people like Fabian Yantorno and Aurelien Collin and others, have actually attracted interest.
"That's the only way a club like Gretna can have any financial viability.
"That's what we have set about doing in the last 18 months but we are facing a difficult situation at the present."
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