A report in the Sunday Mirror said one of the four players, who are not in Chesterfield manager James Rowe’s plans, is Milan Butterfield.
A club statement on Saturday said the decision was taken in consultation with the PFA and that other National League clubs have done the same.
The players furloughed will receive their full salaries and ‘support to ensure that their mental well-being requirements are met’, the club said.
“It is never easy when you are making decisions on players,” Rowe said.
“It was never a strategy of ours when we were bringing players in.
“It was no consequence of our recruitment coming into the club.
“The National League North and National League South have been suspended and that affected the decision making at this stage. We can review that once we know what the vote is and also when we know what is happening to funding because funding was meant to come in and that has not come in either so those two prongs if you like, have affected exactly what our decision-making is. It is a business decision.”
When asked if he understands the mixed views surrounding the issue, Rowe added: “I understand it, but also people are making opinions when they don’t know the whole facts of what has happened.
“There are some for and against but ultimately it is a board decision, the finances come down to the board.”