A number of players and staff at Dundee are expected to lose their jobs in the next 24 hours after the club were officially put into administration today.
The Irn-Bru First Division club announced last week that they had no other option after being unable to negotiate the payment of a £365,000 (€414,961) tax bill.
A statement on the club's official website read: "Dundee FC are now officially in administration. Papers were lodged at the Court of Session in Edinburgh today. Bryan Jackson of PKF will now assume control of the club."
Dundee had been waiting for director and main financial backer Calum Melville to deposit £200,000 (€227,454) in a bank account to allow the club to function through the period of administration.
It is the second time in seven years that the former European Cup semi-finalists have been placed in administration, the first coming amid debts of £20m (€22.74m).
The club's deficit is far less severe this time - the highest estimate of their total debt is £2m (€2.27m) - but they are still in need of fresh investment to survive.
PFA Scotland chief executive Fraser Wishart visited Dens Park today to talk the players through the process but they remain in the dark over the scale of the imminent cuts.
There is serious doubt over the future of manager Gordon Chisholm and assistant Billy Dodds, who were recruited from Queen of the South in March after Jocky Scott was sacked while leading the First Division.
Wishart said: "Nobody knows what the decision is going to be in terms of who is staying and who is going.
"That is purely down to the administrator and the club. We were purely here to tell the group what their rights would be if they stayed, what their obligations would be if they stayed and the process if they were made redundant.
"I think the players have been resigned to some sort of cuts being made at the club and they will find out more tomorrow.
"For me at the moment, it is all about trying to minimise the damage for the players and trying to make sure the players know the process, comfort them and find a new club.
"There will be a lot of tears here from the players and the staff. We have to understand people will lose their livelihoods."
Jackson presided over a similar process at Clydebank and Motherwell. He was unable to prevent Clydebank moving into liquidation, when they were taken over by Airdrie United.
Jackson made 19 players redundant shortly after taking over at Fir Park, although nine of those were in the final weeks of their contracts.
However, the Lanarkshire club came out of administration in a position to move forward in a self-sustainable manner.
Dundee chief executive Harry MacLean insisted the club would fulfil their fixture against Stirling on Saturday but he could not guarantee they would be able to avoid liquidation.
"Any business that goes into administration, that can happen," he told BBC Scotland. "My personal opinion is that won't be allowed to happen.
"But the simple fact is unless we raise money and unless we raise it reasonably quickly, then any business could face that prospect.
"The business community have reacted quite well as have the ordinary fans in the street. What's going to make sure we survive is whether the pledges come good. A pledge is nothing until it's here as money in the bank."
Dundee, who are sixth in the table, also face the prospect of sanctions from the Scottish Football League.
The SFL's rules state that any club in an insolvency procedure is in breach of its rules. Both Gretna and Livingston have been relegated from the First to the Third Division in the previous two years for undertaking a similar procedure, with the former unable to survive.
However, the SFL will allow the administrator to make his decisions and give the club the opportunity to state their case before beginning any disciplinary action.
SFL operations director David Thomson tonight told Press Association Sport: "The league have the power to take sanctions against the club but there is no specific punishment. The SFL board treat each case on its own merits.
"It is too early for that at this stage. We would have to write to the club and give them the opportunity to reply.
"That's not something that will happen tomorrow or even early next week."