Luke Patten and Vinnie Anderson, who both left the Reds at the end of last season, each claimed they were owed around £40,000 after entering into a "salary sacrifice" arrangement - giving up the right to receive part of their wage, usually in return for some form of non-cash benefit - during their time with the club.
Meanwhile, Revenue & Customs said they were entitled to around £50,000 of unpaid tax.
Salford stressed at the time that they expected the matter to be resolved before January but now there is fresh doubt over their future.
Salford City Reds hoped to attract attendances of around 8,000 to home fixtures in 2012 - the final average figure was just under 5,500
Salford City mayor Ian Stewart said: "Times are tough and, in many ways, the Reds are yet another victim of the recession.
"We would have loved to try and help them out, but given the spending cuts the city council is already facing, that proved impossible."
Another Super League club, Bradford Bulls, were on the brink of extinction earlier this year and Salford are desperate to avoid a similar fate.
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