The Shaymen's creditors rejected a deal to save the club on Wednesday and then on Friday came the bombshell that the taxman was owed £800,000 – a staggering £300,000 more than previously thought.

That scuppered any hopes of a reprieve and instead of revealing his retained list in one-to-ones with his players, Wilder was telling them all they were out of work.

"I have been here for six years and this is a desperately disappointing time for me," said Wilder, a former Halifax player who took charge after the club emerged from administration in 2002.

"I had meetings planned with the players on Friday afternoon but I had to postpone them and then the phone call came through at 2.30pm and the retained list suddenly became irrelevant. I have brought all these players to the club and there are a lot of young lads who I have sold this club to.

"We all feel massively let down but we are not the first people in the world to be made redundant.

"I am sure the players have the character and fight to get over this and stay in the game professionally."

Creditors Roy Barnett, of RM Barnett Ltd, and Gary Pearson, of Jacamast Ltd – two Huddersfield firms owed around £200,000 each for work on the half-built East Stand eight years ago – both refused to accept an offer of 2.5p in the pound from David Bosomworth's consortium at the creditors' meeting on Wednesday.

That forced an adjournment until Friday when it emerged that the Inland Revenue was owed £800,000.

The taxman always votes against any salvage deal, meaning that even if all the other creditors accepted, it was not enough.

Administrator Rob Sadler, of Leeds-based Begbies Traynor, said the £2m-plus debts were "insurmountable" and added: "Halifax Town will probably perish."

Wilder said the club went down because of old debts and added: "The previous chairman, Geoff Ralph, and David Bosomworth did their best to keep the club alive and we have been prudent, even after the play-off final in 2006 when people said I should have asked for more."

Wilder, who led the club to within 10 minutes of a return to the Football League in the play-off final against Hereford in 2006, said he had no regrets, not even turning down a three-year contract at Cambridge 18 months ago.

"I had the chance to leave but I stayed loyal and I am proud of my efforts," he said.