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Receivers say five offers have been made for an interest in Birmingham or parent company Birmingham International Holdings Limited.
Midfielder Callum Reilly has returned to Birmingham from his loan spell at Burton after suffering a calf injury on his debut.
Burton have completed the loan signing of Denny Johnstone from Birmingham until the end of the season.
Birmingham have signed Diego Fabbrini on loan from Watford for the rest of the season.
Birmingham's long-term injury victims Matt Green and Gavin Gunning stepped up their recoveries by featuring for the Under-21s.