The chairman of main contractor Verry Construction has admitted the firm is going into administration.
John Gibson made the comments on the St Albans City Football Club website. The club is owned by William Verry Holding Limited and Mr Gibson, also chairman of the club, issued the message to reassure fans.
Mr Gibson said on the St Albans City FC website: “As many fans may be aware Verry Construction are about to go into administration.
“This should not affect the football club which is owned by the holding company, William Verry Holding Limited. The two companies are not linked as far as the football club is concerned.
“In relation to the football club, William Verry Holdings Limited are looking forward to continuing into next Season.
The comments are the first to emerge from the company, where directors have been locked in meetings over the firm’s future.
The company was responding to calls this morning by saying that no directors were available for comment.