Bury are on the brink of being expelled from the English Football League after C&N Sporting Risk announced they are “unable to proceed” with the proposed takeover with just over an hour remaining until the deadline.
The club, along with Bolton, who are also struggling financially, have until 17:00 BST on Tuesday to complete sales of the clubs.
But the EFL have now confirmed the analytics company have walked away from a deal.
A statement read: “The EFL Board has been informed that C&N Sporting Risk will no longer be pursuing their interest in Bury FC.
“The League announced at the weekend that it was working exclusively with the Club and C&N in an attempt to finalise a change of control at the Club.
“However, following a period of due diligence, C&N have opted not to progress matters. The League continues to be in discussions with Bury FC in advance of today’s 5pm deadline and will provide a further update as appropriate.”
Shakers owner Steve Dale previously agreeing a deal and EFL executive chair Debbie Jevans confirming on Sunday that the analytics company had provided proof of funds.