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Wolves 2 Charlton 1
Luckless Charlton found their best was not quite good enough as they lost the Coca-Cola Championship's top versus bottom clash against Wolves at Molineux.
With eight games remaining, the Addicks are 13 points adrift of safety and for the first time manager Phil Parkinson conceded: "Our chances of staying up are now slim.
"But we owe it to everyone connected with the club to keep battling for points between now and the end of the season.
"If we do go down then I know that this club wil re-emerge stronger for the experience."
He declined to comment on his long-term future, though it is believed that the club's board of directors will call on his experience in the lower divisions to lead the club back."
Matt Holland's 78th minute own goal decided the game as he turned in a David Jones corner past goalkeeper Rob Elliot.
It was rough luck on Charlton who played with a new resilence to frustate Wolves.
They dominated the first half only to fall behind to old boy Chris Iwelumo's first goal in 16 games when he turned in Michael Kightly's cross.
Charlton deservedly equalised in the 51st minute when Zheng Zhi picked his spot from 25-yards to beat Wolves goalkeeper Wayne Hennessy.
When Wolves were awarded a dubious 68th minute for pushing by Mark Hudson on Christophe Berra, Charlton goalkeeper Rob Elliot foiled Sylvan Ebanks-Balke with a fine save diving low to his left.
Then Wolves won the game through Holland's own goal to deny the Addicks a point they richly deserved.
There was a furious bust-up involving Parkinson and opposite number Mick McCarthy in the first minute of stoppage time when the Wolves manager appeared to knock the ball away as Charlton were preparing to take a throw.
The fourth official stepped in to stop what could have been an ugly confrontation.
Addicks: Elliot, Youga, Hudson, Holland, Butterfield, Soares (Ambrose 73), Racon, Spring (Dickson 80), Bailey, Zhi (Shelvey 88), Kandol. Subs not used: Randolph, Basey.
Attendance: 24319