Wigan Athletic have become the first club in professional English football to enter administration following the coronavirus pandemic.
A statement said Paul Stanley, Gerald Krasner and Dean Watson from Begbies Traynor had been appointed as joint administrators of the club on Wednesday.
Paul Stanley said: "We understand that everybody connected with the club and the wider football world is seeking clarity on the future of Wigan Athletic.
"That's exactly what we are seeking to provide as we move through this process and we seek out interested parties to rescue this famous old club here in the region.
"It is a fast-moving situation and we will provide updates on key developments."
Gerald Krasner added: "Our immediate objectives are to ensure the club completes all its fixtures this season and to urgently find interested parties to save Wigan Athletic FC and the jobs of the people who work for the club.
"Obviously the suspension of the Championship season due to COVID-19 has had a significant impact on the recent fortunes of the club.
"Wigan Athletic has been a focal point and source of pride for the town since 1932 and anyone who is interested in buying this historic sporting institution should contact the joint administrators directly."
Paul Cook's side are 14th in the Championship, eight points above the relegation zone but the club is now facing the possibility of a 12-point deduction.
Wigan's 3-0 win over Stoke at the DW Stadium on Tuesday made it 3 wins in a row since the resumption of the league but a 12 point deduction would drop them to the foot of the table, four points from safety.
Dave Whelan sold the club to Hong Kong-based International Entertainment Corporation in November 2018.
The Latics were in the Premier League as recently as the 2012-13 season, the same year they beat Manchester City 1-0 in the FA Cup final.
Wigan dropped down into League One in 2015 but made an immediate return to the Championship.
The club recorded a net loss of £9.2m in their most recent annual accounts for the year ending June 30th 2019, which was an increase of £1.5m on the previous year.