The trials and tribulations of a successful relegation battle are over.

But a greater threat now stands in the way of the club and its 80-plus years of history.

Creditors yesterday rejected an offer of 2.5p in the pound to clear its outstanding debts.

Tomorrow the meeting will reconvene. If a compromise is not reached, the club faces liquidation.

Administrator Rob Sadler must now attempt to persuade the consortium who want to buy the club to part with four times the amount that is now on the table. This would take their outlay to £800,000.

Given the club is running losses of around £30,000 a month, that is asking a very great deal of anyone.

In this whole sorry state of affairs it is easy to be blinded by sentiment.

Football fans are fiercely loyal. Those who support Halifax Town are no different.

For them it is easy to overlook the fact some businesses have been badly scalded by Town's bad debt.

Roy Barnett, whose construction company was involved in building the half-finished East Stand and is owed £195,000, says: "It is a tragedy the club has been allowed to carry on trading as long as it has."

Ironically, this comes at a time when Calderdale Council has committed £2.7 million to finishing work on The Shay stadium.

When it comes down to it, nobody wants to see Halifax Town wiped off the football map.

We must hope – maybe pray – that something arrives to transform the club's fortunes at the very last minute.