Jim O’Toole and James Sandford, co-owners of Atlas, made the announcements while speaking at a supporters’ event at Sixways on 18 February.

Earlier this month, Atlas had set out plans to rebrand as Sixways Rugby but has now opted to stick with the club’s original name.

The club has informed the Rugby Football Union (RFU) that it will withdraw its application for a place in the Championship after it was unable to meet the mid-February deadline to have the respective takeovers fully completed.

The Atlas decision to withdraw their application leaves the RFU with no regulatory means to enforce the payment of rugby creditors, including a £6m tax bill owed to HMRC.

The responsibility for managing the liabilities of the insolvent club now lies with the administrator of WRFC Trading Limited, and the liquidator of WRFC Players Limited.