The Latics have been in administration since the start of July and are currently in the hands of Manchester-based Begbies Traynor.
The joint administrators - Paul Stanley, Gerald Krasner and Dean Watson - are working to sell the club to new owners and say that serious discussions are taking place with at least three bidders.
But a statement from the administrators say that one of the principal bidders - who had been ready to deposit funds of £4m with their lawyers last Monday, September 14 - backed out of the deal after seeing publicity from social media the previous day of a lower rival offer.
Suggestions that a French-American group had made a final offer of £2m surfaced and the anonymous bidder had been 'put off' by this and withdrawn.
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