Craig Stevenson, owner of Braehead Foods, was quoted as saying a winding-up petition was on its way to Rugby Park over a £16,000 bill for supplies to the club’s Park Hotel.
However Johnston, who has sold players in Liam Kelly and Michael Nelson this season, insisted that the debt was being dealt with in the usual manner and there was no danger to the club, who have a debt of close to £10 million.
Johnston, whose side lost 3-2 at home to Dundee United on Saturday, said: “There is no winding-up petition. We are dealing with commercial creditors in the way we always do.
“This creditor is obviously looking to get some priority for payment for himself and it’s unfortunate that he has decided to take it into the public domain.
“If we did that to the people who owe the football club money there would be a bit of an outcry.
“It’s clear from his own comments that we’re not talking about a large amount of money, relatively speaking, and that we are not talking about a particularly aged debt.
“The bulk of the debt he is claiming isn’t due for payment until the end of January, as far as we are concerned.”