Birmingham City's parent company, Birmingham International Holdings Limited (BIHL), has gone into receivership.
BIHL, who have appointed three receivers from Ernst and Young, today blamed "fractious and inharmonious relations within the management" for the decision.
The club described the move in a statement this morning as "voluntary but unusual", going on to "emphatically" assure fans that it would not result in liquidation of the company.
"The club wishes to reassure its supporters and staff most emphatically that no winding up petition has been filed against the company (BIHL) and that it is therefore not in liquidation," read the club statement.
"The subsidiary (BCFC) can fulfil its obligations as a member club of the Football League and shall continue to maintain a strong dialogue with the board of the Football League on this matter."
Birmingham are 13th in the Championship and next host promotion hopefuls Middlesbrough tomorrow night.
