The 'future of the club is now at significant risk,' administrators of Inverness Caledonian Thistle have said.
Joint administrators have revealed that no offers were received to buy the cash-strapped League One side.
A statement from BDO says there was a 'strong level of interest from several parties,' but none made a bid before March 6.
Reasons for potential buyers refraining from submitting an offer included; current loans from former directors amounting to £3.5m and uncertaining around the ownership of the land surrounding the club's stadium.
It's said that 'a sale transaction does not appear to be achievable in the absence of new parties coming forward and the future of the club is now at significant risk'.
A BDO spokesperson said: "We appreciate that this latest update will be disappointing for players, fans and the wider community.
"Given what has been achieved both on and off the pitch throughout the administration period, we would very much like to see a sale of the club to ensure that its future is secured and we would encourage all parties to cooperate in this endeavour.
"We are grateful for Alan Savage's ongoing financial support and would urge any interested parties to come forward with a view to acquire the club.
"The JAs would welcome the opportunity to discuss and provide a guide in respect of an acceptable price."
Inverness were placed into administration in October.
Duncan Ferguson left a short time after, as the club was hit with a 15-point deduction which left them rooted to the foot of the League One table.
Caley Thistle are now eighth, 23 points clear of bottom club Dumbarton - also in administration - and two ahead of the play-off position.
