Staff at Gretna will discover their fate on Monday morning in a meeting called by the club's administrators.
Officials from insolvency firm Wilson Field set a weekend deadline for bids for the troubled club, who finished bottom of the Clydesdale Bank Premier League. If no bid is accepted the club will be wound up.
Chairman Ron MacGregor and manager Mick Wadsworth both expressed hope last week that a package would come together to keep the club alive, but it is unclear whether an offer has materialised or been accepted.
Glasgow-based football agent Paul Davies has fronted the consortium whose interest remained the strongest throughout the club's spell in administration.
Gretna went into administration on March 12 after owner Brooks Mileson withdrew his financial support after a brain infection.
Mileson has lost around £8million in the club, who have various other creditors, including the Inland Revenue.
The creditors have formed a committee, which must give its backing to any takeover bid.
The club's assets are predominantly their Raydale Park ground, which was valued at £850,000 in their annual accounts, while their debt at the time they entered administration was close to £4million.
