In administration and 10 days before liquidation. Is this the first of many?

Can you count out the majority as been safe or not?

Wigan,Wire,Leeds,Saints,Catalan not a chance.
HFC - safe even though not hitting break even figure for attendances. (good money man and good ground)
HKR - safe even though not hitting break even figure for attendances but ground improvements already happening and fairly secure.
Wakey - safe, been through it and come out of it secure, now with planning permission and a good looking future.
Hudds & Widnes - safe as long as money men keep them going.
Cas - who knows with them, seems to change at that club more then i change my underwear.
London - money man at helm who says he wont keep them going (but still is) searching around all the time for places to play to see if they get the fans going. RFL need them because of Sky. Safe.
Salford - now for me if theres anyone else its them - need a massive break even figure for the new stadium which they dont even get half of what is needed, trying everything they can but to me the locals just are not interested.

I wouldn't class ourselves as safe. So far we've ran up losses year on year. The board have underwritten these losses but this won't last forever.
Should various financial circumstances change , we'd be in pretty bad shape I'd imagine.

You could say that about 90% of clubs though.

Indeed, that's why we're no less 'safe' than any of the others you mentioned.

But where also just as safe as the others mentioned.