The curtain is set to be drawn on Livingston’s meteoric rise with owner Angelo Massone showing no signs of accepting the cash offer that would ensure the club would not go into liquidation.

Interim manager Donald McGruther, from administrator Mazars, has already insisted the club are ‘insolvent’ but has investors lined-up.

That however depends on Massone accepting a £25,000 offer by midday on Wednesday to leave the club immediately but the Italian isn’t in any rush to depart.

“My decision is to continue to work hard for Livingston Football Club and to find a solution,” said Massone.

“Now is the time to run the business - not to close the business immediately.”

Massone’s Italian based-consortium bought the club for just £1 from Pearse Flynn last summer but they have been dogged by negative headlines over unpaid wages and mounting debts.

Almondvale landlords West Lothian Council’s patience finally snapped last week when they took the club to court over an unpaid bill of £330,000 and McGruther is fearing the worst.

“Livingston Football Club Ltd is hopelessly insolvent, without any discernible cash flow, and in need of an immediate cash injection,” said McGruther.

“There is no possibility of the club continuing to trade under the interim manager or any subsequent administration process.

“There are parties interested in acquiring the club, but it is obvious that the main barrier to a successful sale is the control Mr Massone exercises over the company shareholding.”