The English Football League confirmed a 12-point deduction will be imposed, though it will only apply this season if the Latics finish outside the bottom three.
Wigan, who lifted the FA Cup in 2013 in the same season they were relegated from the Premier League, are 14th and has won six of its last seven games.
Gerald Krasner, Paul Stanley and Dean Watson of Begbies Traynor have been appointed as joint administrators.
"Obviously the suspension of the Championship season due to COVID-19 has had a significant impact on the recent fortunes of the club," Krasner said in a statement.
Long-time owner Dave Whelan sold the club in 2018 and it changed hands again in May this year, with Next Leader Fund taking control.