A POWER struggle has broken at Kidderminster Harriers out as the cash-strapped club teeters on the brink of financial collapse.

Acting chairman Dave Reynolds and the board are searching for investment to plug a £150,000 hole in the club's finances by the end of the month, in order to avoid going into administration.

Meanwhile, former chairman Barry Norgrove and Neil Savery have thrown their weight behind Warwickshire-based businessman Chris Swan's bid to buy the crisis club.

The entrepreneur was expected to address Harriers' major shareholders at a meeting last night.

Mr Reynolds admitted the Football Conference outfit needs major investment to avoid a compulsory voluntary agreement (CVA), which under league and FA rules would automatically see the club deducted 10 points in the Blue Square Bet Premier.

To make matters worse, they are also set for a hearing with Conference chiefs next Thursday over a charge of breaching their financial reporting rules, which could lead to a further points penalty.

Harriers' dire situation was revealed after a financial review by accountant Joe Hancox, from Crowe Clark Whitehill.

The money owed is needed to pay debts, wages and general bills as well as two months of PAYE, VAT and National Insurance.

"We need that money urgently but we're confident if we get it we'll be fine until the end of the season," commented Mr Reynolds.

"Joe Hancox has checked our figures and agrees with us. We need two or three big investors to put money in.

"We've got somebody who can put £50,000 but it would be unfair to ask them to put that in without finding the rest of the £150,000 because they would lose their money."

Meanwhile, with the club on a knife-edge, Mr Swan has said he is willing to buy the club and has the backing of former board members Mr Norgrove and Mr Savery, who were ousted in October.

The ex-board members are willing to pledge their shares in Aggborough Holdings, who own the majority of Harriers, to the mystery buyer.

Mr Norgrove also urged Mr Reynolds and Wayne Allen, who own two others portions of the parent company, to do the same.

He said: "Neil and I care deeply about what happens to Harriers, we love the club and don't want it to go down the pan.

"That's why we are both prepared to give this businessman our shares in Aggborough Holdings and walk away.

"We feel he's the right man to take over the club, but this will only work if Dave and Wayne do the same.

"He wants to back the club and bring his own people in."

However, the return of the club's former board members will incense some fans, with many blaming them for the club's current financial plight.

Harriers narrowly avoided a winding up order in November when Mr Reynolds and Stourport-based businessman Mark Serrell paid £93,000 in taxes, VAT and National Insurance after taking the reins.

At a fans meeting in November, Mr Serrell accused the club of 'living beyond its means' under the previous board and that there had been 'a lack of control on expenditure on a day-to-day basis'.