THE crisis surrounding Darlington Football Club deepened last night after a stormy creditors' meeting left the Quakers' survival hopes hanging by a thread.

The meeting was adjourned by administrators until Tuesday to allow the validity of claims from major creditors, including former chairman George Reynolds, to be investigated.

But with the Football League demanding that the Quakers' future is resolved by next Friday, the club has only days to find a way out of its seemingly intractable financial problems.

The club would have been doomed yesterday if there had been a final vote on a company voluntary arrangement (CVA), worth a total of £150,000, proposed by stadium owner the Sterling Consortium.

Influential creditors, including Mr Reynolds, Barclays Bank, the Inland Revenue and Hall Construction - the Ferryhill company that built the stadium - had all indicated that they would not back the proposal.

But Sterling financier Stewart Davies last night issued a defiant message to fans. He said: "We will ensure football is played in Darlington next season."

Talking exclusively to The Northern Echo, he said: "The Sterling Consortium will do whatever it can, and pay whatever it costs, to ensure Darlington FC can play football."

The adjournment has given joint administrator David Field more time to look into the claims of the key creditors - Mr Reynolds and Sterling - to determine how large their share of the final vote will be.

Excluding Mr Reynolds and Sterling, The Northern Echo understands that unsecured creditors, owed a total of £900,000, said they would reject the offer, while creditors owed a total of £100,000 were in favour.

Mr Field faced tough questions, revealing that the cost of the administration was running at more than £360,000.

The meeting, held at the Neasham Road arena, turned into a furious debate at times, as Mr Reynolds made a string of accusations against the administrators and Sterling.

Mr Field opened proceedings by announcing his intention to adjourn matters. Mr Reynolds then made his feelings known, as did other creditors.

A spokesman for Hall Construction said later: "We want to stress that we are not against Darlington Football Club and that we want to see the club have a future.

"But it was impossible to support a proposal which was so unfair to creditors and which puts businesses in the town in jeopardy."

The Northern Echo can also reveal that Hall Construction was involved in a consortium seeking to put together another rescue bid.

Sources at the creditors' meeting said the figure discussed was £3.7m but it was not put in writing.

It was unclear last night whether that potential bid was still alive, but it looks doubtful in view of Sterling acquiring the stadium.

Mr Reynolds submitted a claim for £10.3m against the club last Friday and Sterling's £3.3m claim was received minutes before yesterday's meeting.

Mr Field said: "Because they are the two largest claims, I want to make sure I have done the best job I can in determining how much they are entitled to vote for.

"This leaves the club with the possibility of survival. It is the only glimmer of hope the club has got."

Mr Reynolds' bankruptcy hearing, initiated by Sterling, is due to resume in Leeds today and could bring a fresh twist to the saga.

The Northern Echo understands that Mr Reynolds' legal representatives will seek an adjournment for a week.

He reiterated yesterday that he would not stand in the way of a rescue package if Sterling lifted the bankruptcy threat against him.

Administrators also confirmed that an injunction preventing Mr Reynolds from entering Darlington's stadium, except for the creditors' meeting, was in place.

Supporters' leaders admitted there were serious fears that the club's 121-year existence was about to end.

Tony Taylor, Darlington Supporters' Trust chairman, said: "As things stand, we are extremely concerned about the future of the club and we are just hoping that creditors will approve the CVA next week."