Hong Kong pro-democracy paper Apple Daily could be forced to shut down in a “matter of days”, said an adviser of the paper’s jailed founder Jimmy Lai.
Authorities last week froze HK$18m ($2.3m; £1.64m) of assets owned by three companies linked to Apple Daily.
Mark Simon told the BBC the paper could “do nothing while none of its bank accounts are functioning”.
Apple Daily, a well-read tabloid, is frequently critical of Hong Kong and mainland Chinese leadership.
“If you don’t have money you can’t order services. Most importantly, you can’t promise to pay people when you don’t have access to the cash to cover those expenses. That’s illegal in Hong Kong,” said Mr Simon.
“The paper is still on the news stands today but it is only a matter of days before it won’t be there unless its bank accounts are unfrozen.”
The paper’s publisher, Next Digital, is holding a board meeting on Monday to discuss the paper’s future.
Apple Daily had on Sunday said it only had enough cash to continue normal operations for “several weeks”.