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Many fans feel that Paphitis is directly responsible for the current mess at The Den and hundreds of supporters gathered outside the entrance to the ground on Saturday to air their disgust at the way the club has been allowed to disintegrate.
The summer break saw several key players leave on the advice of former manager Dennis Wise and despite starting the season with a severely diminished squad, manager Colin Lee has had to rely on emergency loans from other clubs.
Yet, Paphitis has vowed to stick it out until a suitable candidate can be found.
"Nobody needs that kind of abuse. It's not nice but I've no intention of walking out," said Paphitis.
"I've got a thick skin. Like all families you are going to have a falling out every now and again and the fans have decided I'm the one who is going to take the brunt of their anger.
"I understand that. They've been superb and this is the first time I've had problem like this.
"We've experienced some fabulous times in my nine years here. We've had promotion, play-offs, an FA Cup final appearance and a trip to Wembley.
"Now we've having a bad time. Results aren't good and the performance against Crewe wasn't acceptable. But we don't have any debts and we're not going to go into administration."
"We have to get someone in quickly as possible. I'm hoping it can be sorted out by the turn of the year.
"But it has to be someone who is able to bankroll the club and pay the wages. We've been having discussions but it's a slow process and we've had a couple of false starts.
"We can't have the same situation we had in the summer. That didn't work out."