Bad owners.
It also doesn't help that they don't own their ground. The ground is also nowhere near the town centre which doesn't help as far as attendances go.
Nuneaton is the largest town in Warwickshire. The football club has the potential to be performing a lot better than what it is.
It has the problem that all non-league teams in the Midlands have - almost all of the support was hoovered up by a plethora of League clubs in the 19th century and that percolates down the generations. There was never room to have a "non-league" tradition as there was in (say) Geordieland to anything like the same extent.
As someone who follows step 3 of the NL pyramid closely, they only have themselves to blame. Continually overspend year on year on players with Lita rumoured to be on £800 a week and their previous keeper even more.
Dodgy revenue streams as well… I’m surprised the buckets haven’t been jangling again as they usually pull that stunt when financially in trouble…