League One Bury say they need £1m of external investment to survive.
The Shakers are bottom of the league and could be relegated if they lose to local rivals Oldham Athletic on Saturday.
The statement, which was released on Wednesday afternoon, read: "Bury FC has been experiencing financial difficulties all season and we are currently in a transfer embargo imposed by the Football League because of our short term loan from the PFA.
"At this moment in time the situation is now critical. We are quickly running out of money by trying short-term fixes that are not working long term.
"The club desperately needs £1m of external investment to secure the long-term future of the club. Without this investment the club will cease to trade and there will be no more professional football played at Gigg Lane.
"We are looking for a number of people, local businessmen or women to join a consortium and invest £100,000 each, with a guaranteed payback.
"We need you now because - I repeat - the club will close.”We have a responsibility to all of our staff, players and creditors to not allow the situation to get any worse."
Average league attendances at Gigg Lane have dropped from around 3,500 to 2,733 during the 2012-13 campaign.