The former Watford owner signed a Sale and Purchase agreement with Ken Anderson in mid-April which put him on the verge of becoming new owner.
But after weeks of bitter exchanges between the two men Bassini’s efforts to buy the club solvent came to an end with Anderson accusing him of “time wasting” and making “empty promises” on funding.
Burnden Leisure Limited and Bolton Wanderers Football and Athletic Company were put into administration on Monday – and Parkinson believes the process should have started sooner.
“Laurence came into the club, I met him, he chatted to the players, came to a couple of games,” he said, “and I kind of felt the more it was going on, maybe he had the funds behind him?
“I think he was trying hard to get those funds but it really was a complication we didn’t need because it delayed the process and put people through more stress at the club, which at the time we certainly didn’t need.”
Bassini told Sky Sports on Wednesday that he will join a list of potential buyers in administration and submit an offer by the end of this week.
"I didn't want to do it after administration, I wanted to prevent the damage that has caused, however it wasn't possible and not of my making," he said.
"I will be speaking with the people at the club on Friday and they will have my offer."