Valenciennes have been granted a postponement of insolvency proceedings against the club.
The French outfit were relegated from Ligue 1 at the end of last season, but face a desperate battle to survive due to financial issues.
However, they have now been granted a temporary reprieve, but are required to go before French football's financial watchdog later on Wednesday, with reports suggesting the team could be relegated further.
A statement on the club's website read: "President Legrand informs employees, partners and supporters of Valenciennes that he has obtained a postponement of the consideration by the Tribunal de Commerce of Valenciennes relating to a request to open insolvency proceedings concerning the club.
"The next step is to go before the DNCG (Direction Nationale Du Controle De Gestion) this afternoon.
"Everything will be implemented to achieve the very difficult challenge of saving VAFC."