League One outfit Bury have revealed that they will "cease to trade" unless they receive £1m investment in the near future.

The Shakers have been in financial trouble all season, but in a statement on the club's official website, their situation has now been described as "critical".

"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," reads the statement. "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.

"If you are interested, please call the club and we will explain in detail our business plan. We need you now because I repeat the club will close."

Bury are currently bottom of the League One standings.