"To see so many people lose their jobs yesterday was heartbreaking," said Locke. "My thoughts are with these great people.
"I won't have any input on which players are made redundant because it is purely about finance.
"Every penny that comes in goes towards the running of the football club. We need to stand shoulder to shoulder.
Interview - Hearts manager Gary Locke
"It's imperative that we get more money in in the next two weeks. If we don't, more players will go and the club might not be here.
"We need to make sure the club survives. We have all made sacrifices over the last few days and now we just hope the fans can do the same."
Prior to entering administration, Hearts were planning to sign defender Danny Wilson on a permanent deal after his loan from Liverpool last season.
But Locke explained: "The transfer embargo [imposed by the Scottish Premier League after players were not paid on time] means we can't sign Danny Wilson when his loan expires at end of the month and that is a blow.
"I'm losing out on a fantastic player that I would have loved to have built my team around. Hopefully if everything works out, you never know, he might be back here one day.
Meanwhile, BDO have confirmed that directors Roman Romanov, Sergejus Fedotovas and Vitalijus Vasiliauskas have left Hearts.
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