And the Ibrox coach has warned that dropping to the bottom tier might be necessary for the Ibrox side, if the SFA do not overturn their transfer embargo.
Rangers have launched an appeal against the decision to hit them with a 12-month ban on new players and Durrant has revealed he fears the worst if it is rejected.
"The Third Division is an avenue we may have to take," he said.
"Young boys cannot compete mentally or physically in the Premier League. You'd be struggling to finish and would maybe be relegated, which would be hard on them.
"It may be that we may have to go to the Third Division and rebuild the squad from there.
"I think that some of the penalties are very harsh.
"If Rangers are guilty then we will serve our time, but some of the sanctions, like the transfer embargo, are very harsh.
"For us to compete in Scotland we need to have a competitive edge and we have that through our playing staff.
"I hope something will be resolved on that front."
Durrant, however, has thrown his full weight behind Ally McCoist, believing he is the man to lead the Ibrox side out of the crisis.
"He is a Rangers man," he said. "He has fulfilled a dream in managing Glasgow Rangers. There is one thing for sure, he'll not give that up lightly.
"What he'll do for the club is what's right for Rangers.
"He can be stubborn, he took a lot on and it's been hard for him, having to deal with a lot himself, but what he'll do – and I can guarantee the fans that – is Ally McCoist will do 100% what's best for Rangers."
As a former player and boyhood fan of the club, Durrant has admitted that the last three months have been a nightmare for someone who has known only success at the club.
He remains adamant, though, that there will be an escape from the current situation and he remains optimistic that a buyer will be found.
"Sometimes in life you are dealt a set of cards and you have just got to get on with it," he told BBC Alba Club TV. "We were dealt our cards early doors but it will make us stronger and hopefully it will be for the better of the club.
"We have been brought up with success. I was fortunate enough in my playing career here to win a few things. We have been steeped in success and we have all taken a jolt going into administration. But I do think we can come out the other side and be a force once again.
"Once we are up and running I don't have any doubts that we will be a force once again."