GERALD Krasner reopened the bidding for Cherries, then warned that the ailing club could fold without a quick cash injection.

The Cherries administrator confirmed at a press conference yesterday that the £1million bid from Jeff Mostyn's consortium was no longer on the table.

This means the club is again up for sale, and the CVA proposal has been "adjourned indefinitely pending what happens", although Krasner will address creditors at Monday's meeting as scheduled.

"There has been a breakdown in Mr Mostyn's consortium," explained Krasner.

"Marc Jackson and Mr Mostyn have both given me their sides of what's happened, it's not for me to judge it, but the effect is, as of this moment, Mr Mostyn's consortium are in breach of two agreements with us.

"One was the initial funding and one is the proposed sale of the club. As a result of that I've notified them that their exclusive deal, based on what's being proposed for the creditors, does not exist any more."

The initial administration funding agreement was for Cherries chairman Mostyn to pay £350,000 in instalments over February, March and April. But the final £50,000, which was due this week, will not be paid.

"It shortens the period that I'm able to trade the club, which is why I've brought it to everybody's attention," said Krasner.

"The £350,000 would have covered us beyond the CVA meeting to approve or not approve the deal. I need money to trade this club until the end of the season."

Krasner insisted that the worst case scenario would see the club going to the wall.

He said: "If nobody makes a bid, if the people in the area do not wish to support the club by making a bid through the business people of this area, I have to say one of the options open to me is effectively to close the club down at some stage.

"If the money is not there to fund it ongoing, that is the only option that will be open to an administrator. It's one I hope I do not have to take."

Krasner revealed he had "no pre-conceived figure" in his head and that he was prepared to consider any "reasonable" offer for the club.

He said: "I do not intend to do a deal before Monday, unless it's in excess of the deal that was already proposed.

"There are people I know waiting in the wings to see what's happening at this press conference.

"Whether they come in with silly bids or realistic bids remains to be seen.

"If we get to Monday's meeting and nobody has come forward to make anything like a reasonable bid, then I have to say this club is in severe difficulties as regards to its future."

It is unclear whether a bid sufficient to achieve a CVA will come about. This heightens the risk of a 15-point penalty next season, as suffered by Leeds United this term.

Meanwhile, Krasner confirmed he had spoken to potential bidder Chris Swann, but that he had had no contact with Harry Redknapp, or Stanley Cohen, since the former Cherries president claimed to have had a £3million bid declined at the end of February.