Relegated
| Pos | Club | P | W | D | L | GF | GA | GD | Pts | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wolverhampton Wanderers | 46 | 26 | 14 | 6 | 96 | 49 | 47 | 92 | pr |
| 2 | Sheffield United | 46 | 25 | 9 | 12 | 93 | 54 | 39 | 84 | pr |
| 3 | Port Vale | 46 | 24 | 12 | 10 | 78 | 48 | 30 | 84 | pr |
| 4 | Fulham | 46 | 22 | 9 | 15 | 69 | 67 | 2 | 75 | pl |
| 5 | Bristol Rovers | 46 | 19 | 17 | 10 | 67 | 51 | 16 | 74 | pl |
| 6 | Preston North End | 46 | 19 | 15 | 12 | 79 | 60 | 19 | 72 | pl |
| 7 | Brentford | 46 | 18 | 14 | 14 | 66 | 61 | 5 | 68 | |
| 8 | Chester City | 46 | 19 | 11 | 16 | 64 | 61 | 3 | 68 | |
| 9 | Notts. County | 46 | 18 | 13 | 15 | 64 | 54 | 10 | 67 | |
| 10 | Bolton Wanderers | 46 | 16 | 16 | 14 | 58 | 54 | 4 | 64 | |
| 11 | Bristol City | 46 | 18 | 9 | 19 | 53 | 55 | -2 | 63 | |
| 12 | Swansea City | 46 | 15 | 16 | 15 | 51 | 53 | -2 | 61 | |
| 13 | Bury | 46 | 16 | 13 | 17 | 55 | 67 | -12 | 61 | |
| 14 | Huddersfield Town | 46 | 17 | 9 | 20 | 63 | 73 | -10 | 60 | |
| 15 | Mansfield Town | 46 | 14 | 17 | 15 | 48 | 52 | -4 | 59 | |
| 16 | Cardiff City | 46 | 14 | 15 | 17 | 44 | 56 | -12 | 57 | |
| 17 | Wigan Athletic | 46 | 14 | 14 | 18 | 55 | 53 | 2 | 56 | |
| 18 | Reading | 46 | 15 | 11 | 20 | 68 | 72 | -4 | 56 | |
| 19 | Blackpool | 46 | 14 | 13 | 19 | 56 | 59 | -3 | 55 | |
| 20 | Northampton Town | 46 | 16 | 6 | 24 | 66 | 76 | -10 | 54 | |
| 21 | Southend United | 46 | 13 | 15 | 18 | 56 | 75 | -19 | 54 | r |
| 22 | Chesterfield | 46 | 14 | 7 | 25 | 51 | 86 | -35 | 49 | r |
| 23 | Gillingham | 46 | 12 | 4 | 30 | 47 | 81 | -34 | 40 | r |
| 24 | Aldershot | 46 | 8 | 13 | 25 | 48 | 78 | -30 | 37 | r |
| Date | Opponent | Score | Att. | ||||
|---|---|---|---|---|---|---|---|
| 3 August 1988 | Away | Pollok | Tour | 3–2 | W | 0 | → |
| 6 August 1988 | Away | Hamilton Academicals | Tour | 0–4 | L | 0 | → |
| 9 August 1988 | Away | Grays Athletic | Friendly | 2–1 | W | 0 | → |
| 11 August 1988 | Away | Dartford | Friendly | 2–1 | W | 0 | → |
| 13 August 1988 | Away | Basildon Utd | Friendly | 1–0 | W | 0 | → |
| 16 August 1988 | Home | Ipswich Town | Friendly | 0–1 | L | 0 | → |
| 19 August 1988 | Home | Oxford Utd | Friendly | 1–1 | D | 0 | → |
| 27 August 1988 | Home | Bolton Wanderers | League | 2–0 | W | 4075 | → |
| 30 August 1988 | Home | Brighton + H.A. | League Cup | 2–0 | W | 3072 | → |
| 3 September 1988 | Away | Fulham | League | 0–1 | L | 4754 | → |
| 7 September 1988 | Away | Brighton + H.A. | League Cup | 1–0 | W | 4614 | → |
| 9 September 1988 | Home | Swansea City | League | 0–2 | L | 4357 | → |
| 17 September 1988 | Away | Aldershot | League | 2–2 | D | 2170 | → |
| 21 September 1988 | Away | Reading | League | 0–4 | L | 4062 | → |
| 23 September 1988 | Home | Cardiff City | League | 0–0 | D | 3199 | → |
| 28 September 1988 | Away | Derby County | League Cup | 0–1 | L | 9703 | → |
| 1 October 1988 | Away | Preston North End | League | 2–3 | L | 5348 | → |
| 4 October 1988 | Home | Mansfield Town | League | 1–1 | D | 2436 | → |
| 9 October 1988 | Away | Brentford | League | 0–4 | L | 5016 | → |
| 11 October 1988 | Home | Derby County | League Cup | 1–2 | L | 4422 | → |
| 15 October 1988 | Home | Gillingham | League | 2–1 | W | 3200 | → |
| 22 October 1988 | Home | Chesterfield | League | 3–1 | W | 2662 | → |
| 25 October 1988 | Away | Bury | League | 1–3 | L | 2419 | → |
| 28 October 1988 | Home | Wigan A | League | 1–2 | L | 3120 | → |
| 5 November 1988 | Away | Wolverhampton W. | League | 0–3 | L | 10432 | → |
| 8 November 1988 | Home | Bristol Rovers | League | 2–2 | D | 2453 | → |
| 12 November 1988 | Away | Notts County | League | 1–1 | D | 5037 | → |
| 19 November 1988 | Away | Bristol City | FA Cup | 1–3 | L | 7026 | → |
| 22 November 1988 | Home | Lincoln City | Trophy | 2–1 | W | 1176 | → |
| 26 November 1988 | Away | Chester City | League | 4–2 | W | 2050 | → |
| 2 December 1988 | Home | Port Vale | League | 1–1 | D | 3245 | → |
| 10 December 1988 | Away | Wigan A | League | 0–3 | L | 2027 | → |
| 17 December 1988 | Away | Sheffield United | League | 2–1 | W | 9556 | → |
| 20 December 1988 | Away | Colchester United | Trophy | 1–2 | L | 993 | → |
| 26 December 1988 | Home | Northampton Town | League | 2–1 | W | 5034 | → |
| 31 December 1988 | Home | Bristol City | League | 1–2 | L | 4012 | → |
| 2 January 1989 | Away | Huddersfield Town | League | 2–3 | L | 6403 | → |
| 7 January 1989 | Home | Basildon Utd | Friendly | 2–1 | W | 0 | → |
| 13 January 1989 | Home | Fulham | League | 0–0 | D | 4844 | → |
| 17 January 1989 | Away | Northampton Town | Trophy | 1–2 | L | 2539 | → |
| 21 January 1989 | Away | Swansea City | League | 0–2 | L | 3388 | → |
| 28 January 1989 | Home | Aldershot | League | 1–1 | D | 3014 | → |
| 3 February 1989 | Home | Preston North End | League | 2–1 | W | 2948 | → |
| 11 February 1989 | Away | Mansfield Town | League | 0–4 | L | 2414 | → |
| 17 February 1989 | Home | Crystal Palace | Friendly | 2–2 | D | 0 | → |
| 20 February 1989 | Home | IFK Goteborg | Friendly | 2–4 | L | 0 | → |
| 25 February 1989 | Away | Gillingham | League | 1–1 | D | 3574 | → |
| 28 February 1989 | Home | Bury | League | 1–1 | D | 2479 | → |
| 4 March 1989 | Away | Chesterfield | League | 1–2 | L | 3261 | → |
| 10 March 1989 | Home | Wolverhampton W. | League | 3–1 | W | 5924 | → |
| 18 March 1989 | Away | Bolton Wanderers | League | 0–0 | D | 3505 | → |
| 25 March 1989 | Home | Huddersfield Town | League | 2–4 | L | 3582 | → |
| 27 March 1989 | Away | Northampton Town | League | 2–2 | D | 3707 | → |
| 31 March 1989 | Home | Sheffield United | League | 2–1 | W | 4584 | → |
| 4 April 1989 | Home | Blackpool | League | 2–1 | W | 2795 | → |
| 8 April 1989 | Away | Bristol City | League | 2–0 | W | 6213 | → |
| 14 April 1989 | Home | Reading | League | 2–1 | W | 4623 | → |
| 18 April 1989 | Home | Brentford | League | 1–1 | D | 4119 | → |
| 22 April 1989 | Away | Cardiff City | League | 0–2 | L | 3268 | → |
| 28 April 1989 | Home | Notts County | League | 1–1 | D | 3931 | → |
| 1 May 1989 | Away | Bristol Rovers | League | 1–1 | D | 6250 | → |
| 6 May 1989 | Away | Port Vale | League | 0–2 | L | 6250 | → |
| 9 May 1989 | Away | Blackpool | League | 2–3 | L | 3999 | → |
| 13 May 1989 | Home | Chester City | League | 1–0 | W | 4089 | → |
| 19 May 1989 | Home | Leyton Orient | Friendly | 0–0 | D | 0 | → |