Administrators yesterday postponed planned meetings with some Rangers players' agents despite being close to a wage agreement the previous night, Press Association Sport understands.
The Rangers squad have agreed in principle to a series of structured wage cuts of up to 75% but administrators could not finalise an agreement with about half a dozen players following talks late into Tuesday night.
Joint administrator David Whitehouse said on Tuesday night that they had been unable to agree to "personal conditions sought by the advisors to the players" but they hoped to solve those issues "first thing in the morning".
However, it is believed that the main condition some players were looking for was a guarantee that no workers at Rangers would lose their jobs if they agreed to the cuts. Other issues are thought to have included stipulations over transfers.
Planned meetings with some players' representatives are understood to have been postponed at short notice on Wednesday morning, with further attempts from the advisors to reschedule talks being frustrated throughout the day.
Duff and Phelps are now attempting to push through a quick sale of the club after warning Rangers were in danger of not finishing the season.
Whitehouse has confirmed the whole squad had committed to wage "waivers" of up to 75%.
"But there were a number of situations where, as a condition of those waivers, other requirements were put in place which in our opinion, having spent the best part of [Wednesday] morning talking to interested parties and other stakeholders, would materially impact on our ability to achieve a sale of the business," he said.
"Those conditions, in the wider good of the club, I don't think could be met. We have met those players again and they are reconsidering their position.
"We would hope we may be able to reach a resolution, but we can't rely on that so we have to look at other options."