Forfar chairman Alastair Donald is hoping the club will be in a position to name their new permanent manager within the next 72 hours.
The Loons parted company with long-serving boss Dick Campbell last weekend after a poor run of results that had left the Angus side sitting just three points above the League One relegation play-off spot.
First-team coach Stewart Petrie, assisted by development coach Barry Sellars, will take temporary charge of the team for tomorrow’s game against Albion Rovers with the duo also in the running to take over permanently.
However, Donald admitted the club have been taken aback by the amount of interest they have received from elsewhere in connection with the post and they now have a really tough decision to make.
The chairman said: “We have been bowled over by the level of response and the interest in the position.
“It has been reassuring and heartwarming that the post of Forfar manager is so widely sought after by such a high level calibre of candidate.
“We have a really difficult task ahead of us coming to a decision.
“We have put the framework in place over the last couple of years to be able to appoint from in house and that might still be the case. It would certainly be no hardship.
“However, we were determined to take stock and see where we sit in the grand scheme of things.
“People at the club are in the running but other serious contenders have emerged.
“We have a busy time coming up over the festive period as well as a Scottish Cup tie and a transfer window around the corner so we will hopefully be in a position to make our final choice on either Sunday or Monday.
“Once we do, I would like nothing better than if the new manager was still in place in five or six years time.”