THERE was bittersweet news for Cherries' long-suffering supporters at the club's creditors' meeting yesterday.

Unlike Saturday's last-gasp victory over Swansea City, the moment of euphoria came early on, with administrator Gerald Krasner revealing that two fresh bids to buy the Dean Court outfit had been submitted.

This means that the League One strugglers shouldn't go out of business, as was feared when chairman Jeff Mostyn's £1million bid fell flat last week.

An added bonus is that it now seems unlikely that the club will need to sell prize asset Sam Vokes in the near future.

Addressing the packed meeting at Dean Court, Krasner said: "As of 10.58 this morning, I have two written bids. There's a possibility that while I'm speaking a third bid could come through by email.

"The two bids are such that if one of them is accepted, this club should not have to go into liquidation.

"And what's more, under the terms of both bids there's enough money to see everything through until the end of the season and there is no need to raise funds at this moment by selling any players."

One of the two bids is believed to be from Mostyn, who Krasner paid tribute to for funding the administration process, prompting applause from those in attendance.

Worse news was to come, however, when the Corporate Voluntary Arrangement (CVA) vote took place, despite Krasner saying last week that it was unlikely to go ahead yesterday.

With the new bids believed to offer a dividend no less than the original 10.2p in the pound offer from Mostyn's orginal proposal, Krasner was able to call the vote.

But, as feared, the CVA did not receive the required 75 per cent approval - even with a late change of heart from substantial creditor Playershare to vote in favour, with HM Revenue and Customs ruling against.

This means the club could suffer a further points deduction next season, although the Football League, which abstained from voting in the CVA, will consider any possible penalty for Cherries after the Leeds United arbitration, scheduled for next week.

Krasner refused to be drawn on the bidders' identities or the amount of money involved, but he did reveal that, as far as he was aware, the price reduction following a failed CVA in Mostyn's original bid no longer stood.

When contacted by the Daily Echo last night, Krasner confirmed the third bid via email had not materialised.

He is hopeful of reaching a decision by this afternoon.