Michael Appleton has admitted he is prepared for Pompey to go into administration.
The News understands that debenture holder Balram Chainrai is close to carrying out the action.
The move would put off the HMRC winding-up petition hearing scheduled for Monday, February 20 but would see Pompey hit with a points deduction.
It would also be the second time Chainrai has put Pompey into administration.
And Appleton today said Pompey must get ready for the scenario.
The Blues boss said: ‘We have to make sure we’re prepared (for administration).
‘If it does happen, we’ll deal with it and do everything to keep the spirit and morale of the club in place. We need as many points in the bag as possible.’