Rangers administrators have revealed that job losses at the club are "likely" and redundancies are set to be announced early next week.
Discussions have been ongoing this week between Duff and Phelps and manager Ally McCoist - as well as PFA Scotland - regarding cuts to the playing staff.
Joint administrator David Whitehouse, speaking ahead of Saturday's Clydesdale Bank Premier League game against Hearts, said: "There are likely to be some job losses. We will still have ongoing discussions over the next 48 hours and we are going to carry on those discussions after the match today."
He added: "We will be talking to Ally again tomorrow and we are very hopeful we can reach a consensual agreement which we can get delivered probably on Monday."
The administrators confirmed on Friday they had won an initial court order to seize £3.6million held in an account of Rangers owner Craig Whyte's lawyers, Collyer Bristow. But, according to Whitehouse, a decision on whether that cash does belong to the club will not be made in time to save jobs.
He said: "No, it's most unlikely that cash will be released to the club in time to address this issue."
When asked how competitive a team Rangers will be able to put on the park once the cuts are made, Whitehouse added: "That is the balance to strike. Ultimately, it's a football club and we want it to perform very well on the pitch. But it's also got to survive off it.
"We've had a very difficult week in terms of trying to work with Ally and the rest of the management team in trying to look at playing cuts and redundancies.
"Those steps are ongoing and we are very confident they will be satisfactorily concluded tomorrow.
"There are a lot of stakeholders. We are working with the SPFA, with Ally, and there is a very clear balance that we've got to strike between what's for the good of the club on the pitch and what needs to happen off the pitch as well."
Source: PA
