The Stadio San Nicola outfit have finished in mid-table in both seasons since returning to the Italian second tier in 2011, but now face an uncertain future.
And a statement on the club's website on Monday confirmed they were exploring all avenues to safeguard football in the city.
"The general meeting of AS Bari Spa was held where the majority shareholder Salvatore Matarrese Spa announced the impossibility to write off losses and to provide new finance," it read.
"In social discussion, it emerged the common desire to protect the prestige and history of AS Bari.
"The majority shareholder urged, therefore... to establish any initiative to ensure the integrity of corporate assets, the preservation of company values and of creditors, including through the use of bankruptcy proceedings."
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