But Birch remains confident that the club will find a solution to its financial problems and quickly assured fans that all is not lost.
Birch said in the Yorkshire Evening Post: "What happened on Friday is not the end of the world. We've still got the support of the creditors to continue and in that sense not a lot has changed.
"I am still confident that there will be a resolution to the situation we're in. We will get that."
That resolution may come via a takeover bid by a Yorkshire-based business consortium. Stock Market rules prevent Birch from speaking about the exact nature of the takeover bid, but it's understood that negotiations are at a delicate stage and the talks are expected to gather momentum this week.
Spokesman for the group, Leeds-based accountant Gerald Krasner, insists his consortium is the only party able to rescue the club from the threat of administration.