Bury chairman Steve Dale says the League Two club’s financial position is “significantly worse” than he believed it to be before his December takeover.
Players and staff are yet to receive their March salaries and the Shakers were handed a winding-up petition by former boss Chris Brass this week.
However, Dale says Bury “will overcome” their issues and has dismissed speculation he is to leave Gigg Lane.
“It is certainly a testing time,” he added in a statement.
“The full extent of the problems inherited from the previous ownership have become apparent over time, and this has undoubtedly led to our current difficulties.”
Businessman Dale took over the running of the club after previous chairman Stewart Day left,
Bury are third in the table with six games of the season remaining but have had to contend with off-field issues in recent weeks, with a winding-up petition brought by HM Revenue and Customs (HMRC) dismissed in February after a debt owed by the club was paid.
Dale, who has previously received treatment for leukaemia, has reiterated his desire to help the club reach a sounder financial footing.
“I made a commitment to get the club on an even keel, at which point my job would be done and a new, younger custodian could take over,” he said.
“That is still my aim, although this process is slower than I would have liked due to the new issues that have arisen.
“Whilst many would have walked away having unearthed the true position of the club, that’s simply not my style.
“But nor am I a never ending ATM machine. Fiscal prudence and fans through the turnstiles are what will ultimately safeguard the future of our club.”
