Her Majesty`s Revenue and Customs have told Rangers they will vote against a Company Voluntary Arrangement.
Charles Green, who is leading the Sevco consortium aiming to acquire the club, confirmed the news on Tuesday morning.
HMRC's no vote is enough to deal a fatal blow to the CVA proposal and Green will now push ahead with plans to buy the club's assets and form a new company.
Green said in a statement: "I am hugely disappointed by the decision of HMRC not to support the CVA proposal and that disappointment will be felt acutely by Rangers fans across the world."
Source: PA
