A consortium of Dunfermline fans have failed to buy out shares in the club following talks collapsing after the deadline for a response had passed.
The club was served with a winding-up order by HMRC on Thursday over an unpaid tax bill of around £130,000.
The Pars Community made an offer to buy out current Dunfermline owner Gavin Masterton’s shares in a bid to rescue the club. However, talks collapsed on Friday after the 10am deadline passed for a response from Masterton, whom the club owes millions.
A TPS statement read, “TPC has worked tirelessly over many months now and is extremely upset at the outcome of its endeavours.
“We now wish the board of the club well as it seeks to find another solution to its present difficulties.
“The Pars Community has been unable to receive confirmation today from Mr Gavin Masterton’s representative that its final, non-negotiable, proposal, made yesterday, was acceptable to Mr Masterton.
“Accordingly, discussions between TPC and Mr Masterton’s representative have unfortunately now terminated.”