Manor and its administrators have admitted that the F1 team’s short-term survival is in doubt.
As owner Stephen Fitzpatrick’s attempts to find new investors faltered, FRP Advisory were appointed on Friday to oversee a last-ditch rescue effort.
An FRP spokesman admitted there is now a “very limited window of opportunity” to save Manor prior to the 2017 season.
If not, staff redundancies are also “dependent on whether new investment can be secured”.
As for whether Manor will go to Melbourne in March, that depends on “negotiations with interested parties”, the spokesman said.
Owner Fitzpatrick is quoted by Germany’s Auto Motor und Sport: “We do not want to repeat the past. That is why we decided that we will not start a season that we do not know we can finish.”