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- guardian.co.uk, Wednesday May 9 2001 16.29 BST
Sports content provider Sportal has axed 20 more jobs and will go into liquidation if it does not pull in £5m within the next few days.
The company is in talks with two, unnamed, potential buyers to save it from going under.
Sportal's chief executive officer, Rob Hersov, who owns the majority of the company, said: "We're either on the brink of a smart financial rescue package or on the brink of saying enough is enough.
"It all rides on the next couple of days."
He confirmed he was also considering relaunching the operation from its Singapore base to cut costs.
"Our revenues are coming in and our costs are declining. We have record traffic week on week but the market is very tough," he said.
Since announcing last month that it needed £7m to survive, Sportal has raised an undisclosed amount of money from existing investors.
But new, external investors failed to come forward.
Last week Sportal made 20 redundancies, having already cut 30 posts in February.
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