Blackpool Panthers have become the latest side from the Championships to enter administration.
The club has struggled without a major investor since the resignation of owner Bobby Hope in June, and they were deducted ten points from their league total mid way through the season due to several salary cap breaches.
Chairman John Chadwick said: "We have had to call in the administrators and the Rugby Football League have been notified.
"There are individuals who would be interested in possibly forming a new company and meetings will be held as soon as possible.
"But this is a sad day. The crowds have never picked up despite our steady improvement in the league, and last season we went into the record books with a 132-0 win."
Blackpool finished 4th in Championship 1 last season, despite the points deduction, their highest ever league finish.
The Panthers become the latest in a worryingly long list of clubs outside of Super League to have entered administration in the last few years. The list also includes Whitehaven, who were in administration as recently as last week, Widnes, Doncaster, Rochdale and Gateshead.
Halifax coach Richard Marshall has ticked all the boxes so far in his plan to take the club forward, and is confident that Fax can become full-time soon.
As soon as Sam Burgess washed his hands of rugby union, South Sydney officials fell over themselves getting to the phone and the salary cap ready reckoner. It was, so the story goes, too good to be true.