As many as 10 football clubs could face oblivion, if they do not receive assistance from the government, an MP has warned.
Many sides - who were already in perilous financial situations - are understood to have had their problems exacerbated by the loss of income caused by COVID-19. This has sparked fears that other clubs may go the way of Bury and even face extinction if the situation is not addressed.
Damian Collins, the former chair of the digital, culture, media and sport select committee has called on the government to do more to help football get through this uncertain time.
"In the next few weeks, we could see five to 10 EFL League clubs going into administration," the Conservative MP for Folkestone and Hythe told Sky Sports News.
"We saw the outcry last summer when two clubs, Bury and Bolton, were in trouble. If that happens there will be huge public demand to do something.
"Without the government stepping in, those clubs could go to the wall and there maybe others that follow.
"I don't think there is a body able to stump up the cash needed... it requires leadership from the government here."
Collins and Sunderland co-owner Charlie Methven - of Sunderland Til' I Die infamy - have drafted a six-point plan to "rescue football and protect community assets for future generations to enjoy."
The pair believe that the EFL is not fit for purpose and have called for reform in order to improve the way that clubs are run outside of the Premier League. Collins was quick to insist that any taxpayers money spent on bailing out football clubs should not be used to buy players and should only be invested in securing long term sustainability.
The plans have received backing from several high profile figures, including former FA Chairman David Triesman, while chair of the Football Supporters' Association Malcolm Clarke has also called for government intervention.