Crystal Palace have made 29 members of staff redundant with the administrator in charge of the cash-strapped club claiming they are on a "knife edge".
Brendan Guilfoyle has had to terminate the contracts of around half of the club's non-playing staff, with a proposed takeover by the CPFC 2010 consortium still dragging on and no funds available to pay wages.
Guilfoyle told Sky Sports News: "In quite simple terms I'm out of cash and it's the end of the month and people are expected to be paid and I've had to inform the staff that I'm not currently in a position to pay them."
He added: "I also need to make redundancies as I move forward into June. I need to reduce the amount of pay so a large number of people have been made redundant.
"It's not over, but the club is on a knife edge. I'm not funded and at this time of year there is very little income coming into the club but there's still a lot of expenditure going out in terms of wages. I'm juggling with all those difficulties."
With Guilfoyle needing to raise funds in order to pay the wages for May, midfielder Darren Ambrose is understood to be on the verge of joining QPR for around £750,000.
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