Macclesfield Town has been wound up in the High Court over debts totalling more than £500,000.
The 146-year-old National League club was forced into liquidation during a hearing at the Insolvency and Companies Court on Wednesday.
Judge Sebastian Prentis said that he could see nothing which gave him "any comfort" that the Silkmen would be able to pay their creditors.
The judge was told Macclesfield owe £190,000 to Her Majesty’s Revenue and Customs in tax, as well as more than £170,000 to former manager John Askey and a similar sum to another creditor.
Macclesfield were relegated from League Two last month following an unsuccessful appeal against a EFL points deduction related to non-payment of players’ wages.
The Silkmen were deducted a total of 17 points across the 2019-20 season, which ultimately guaranteed a finish in the fourth tier’s single relegation place.
Lawyers representing Macclesfield had asked for the hearing to be adjourned a further eight weeks with the hope that owner Amar Alkadhi could complete a sale to entreprenur Robert Benwell before the end of September.
The judge refused to adjourn the winding up petition, which was initially lodged in early 2019, adding that there had been "ample opportunities" for the club to settle its debts.
Macclesfield regained their Football League status in 2018, winning promotion from the National League under Askey’s management.
Sol Campbell, the former Arsenal and England defender, steered the Silkmen away from relegation the following season amid increasing financial difficulties but left Moss Rose at the start of last season.
