Plymouth Argyle have confirmed their playing and office staff have not received their salary pay for November.
Argyle face a winding-up petition from HM Revenue & Customs, and have until 8 December to clear their debts.
A club statement said: "Following the publication of the winding-up petition our bank has taken the normal step of suspending our banking facilities.
"The suspension will remain in place until the petition is dismissed or we obtain a validation order."
The statement added: "We are taking urgent steps to make progress on both fronts."
A validation order is granted by the court and validates payments made during the hiatus period of a winding-up petition, prior to a winding-up order being granted.
A subsequent statement from the full-time staff at Plymouth Argyle said: "Everyone is, without exception, proud to work for the club and desperately wants it to succeed.
"Therefore, notwithstanding the non-payment of wages and the very real possibility that job-losses could result from the current position, everyone will do everything they can to help the club during this difficult period."
The club recorded a £2.8m loss for the 2008/09 financial year and were previously issued with a winding-up order for unpaid tax by HM Revenue & Customs last season.
Former Leeds and Cardiff chairman Peter Ridsdale was in Plymouth on Thursday holding talks with the Argyle board.
On the pitch, Argyle sit 16th in League One, just three points above the relegation zone, and just 4,960 fans watched them beat
Dagenham & Redbridge
2-1 last Tuesday, their lowest gate of the season.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.