Welsh Premier League side Neath FC has been wound up at London's High Court, a week after the rugby club escaped a similar order at the same court.
An official receiver will now handle the football club's affairs following a petition by Barclays Bank.
It had managed to fend off a winding up order in March from Her Majesty's Revenue and Customs.
Neath Rugby Club, which shares the same owner, escaped a winding-up order on 21 May after a dispute over unpaid tax.
Earlier in May, the football club won a reprieve when paperwork from Barclays was deemed unsatisfactory.
But on Monday the High Court granted a "usual compulsory order" winding the club up.
Neath FC finished third in this season's Welsh Premier League behind Bangor and champions The New Saints.
In a statement issued after the hearing the club said: "The collapse of the clubs main sponsor in October 2011 caused untold financial problems at the club, however against all odds and due to the hard work and determination of everyone involved we continued until the end of the season.
"The recent decision by the FAW not to grant the club its domestic and UEFA licenses for next season was another huge blow to us and unfortunately one that we were unable to recover from.
"The club has been advised that an official receiver will be appointed to handle the clubs affairs.
In the meantime our priorities lie with providing as much support and assistance as we can to all the players and staff who are currently employed by the club."