Nottingham Forest are into the Premier League Cup final but may be unable to fulfil the fixture, against Barnet on 24 March, due to a financial crisis that could lead to the club's closure in the next fortnight.

"Unless we can find £5,000 from somewhere by the end of the month we will go out of existence," said the manager, Lisa Dawkins, after Sunday's 1-0 semi-final win against Leicester City. "We are in desperate need of funds but, despite trying extremely hard to bring in cash, we are well short of our requirements. I'm not just saying this – the situation truly is that serious."

Forest's failed bid to become founder members of the Super League has made it more difficult to attract sponsorships and, though they get financial backing from their Football League parent club, the monies they have managed to secure so far this season are fast running out.

"We've been in the Premier League for a couple of seasons," said Dawkins, "but with the Super League starting in April we can no longer say to potential sponsors that we play in the top flight. The recession has also played its part and, although we get good support from the men's club, it doesn't come anywhere near to covering the £50,000 a year we need to keep going."

Barnet beat Portsmouth 2-1 in the other semi-final. In the weekend's only league match Sunderland beat Millwall 3-2 to stretch their lead at the top of the table to four points.