During the 1994–95 English football season, Gillingham F.C. competed in the Football League Third Division, the fourth tier of the English football league system. It was the 63rd season in which Gillingham competed in the Football League, and the 45th since the club was voted back into the league in 1950. In January 1995, after several seasons spent near the bottom of the Football League and nearly a decade of financial difficulties, the club was declared insolvent and placed in receivership. Mike Flanagan was made redundant as the club's manager and replaced by player-coach Neil Smillie for the remainder of the season. Gillingham finished the season 19th in the Third Division, but the club's continued existence remained in doubt until June, when it was purchased by businessman Paul Scally