That's basically it. Shoddy ownership has seen them pay players way above what they should be in the hope of securing promotion. Money they don't really have.
Andy Holt, the Accrington chairman, has been very vocal about it. He acknowledges the owners are partly to blame but he's accused the EFL of doing fuck all to help - sitting back and letting it happen rather than send in a team of proper football administrators to try and rectify things.