Bolton Wanderers may be unable to fulfil their League One fixtures, according to PFA chief executive Gordon Taylor.
It comes after the club's proposed friendly against Chester on Friday was cancelled, with the players refusing to play due to an ongoing dispute over unpaid wages.
Members of the Bolton squad claim they and the club's coaching staff had not been paid for 20 weeks, while they also returned for pre-season to find their training facilities locked up.
The club has struggled with financial difficulties in recent seasons and entered administration in May after a takeover bid by former Watford chairman Laurence Bassini collapsed.
After seeing their Championship game against Brentford scrapped at the end of last season amid safety concerns, Taylor believes the club could struggle to honour further games this season.
"I shudder to say it's not looking good for Bolton, it's not looking as positive as I would have hoped at this stage," Taylor told Sky Sports News.
"The situation has probably gone on too long with different things coming out of the woodwork and every day seeming to be another hurdle to climb.
"Where there's life, there's hope - but we'll have to wait and see. We're checking things almost on an hourly basis."
EFL not doing enough?
Taylor was also critical of the role the EFL plays, believing more could be done in enforcing Financial Fair Play to ensure the long-term future of clubs.
"We feel the league has not being forceful enough, particularly after the great season it has had," Taylor added.
"There has never been as much income in the game and we want the fabric of the game to survive but in order to do that, the basics need to be done which is balancing the books."
Administrators for Bolton announced a preferred buyer - Football Ventures - for the club at the start of July, although the sale is yet to be agreed.