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After 28 matches in charge at Molineux, former Wolves player Rob Edwards has recorded just five wins, seven draws and 16 losses.
At a Fans Forum this week, the 43-year-old was asked if he regretted his decision to leave Championship side Middlesbrough to take up his current managerial position at a fans forum this week.
He replied: "It has been difficult. I'm here to own up to that and take responsibility as much as anyone.
"We are the ones in the position at the moment, and I need you to know how privileged I know this position is and how proud I am to do this job. I don't take that lightly.
"The position we are in isn't acceptable. It hurts, it really does. I came back here from a really good position at Middlesbrough, knowing the challenges we faced and knowing we could ultimately be in this position, but I want to be a part of moving this club forward.
"It has been mixed. There have been some really difficult moments and we are going through some now.
"There were assurances that it would be a long-term plan but I'm aware, like anyone, that when you go into this job it is a results-based business. I understand that.
"I would've come here if this club was in the National League, I wanted to be here.
"If we get what we want of it, if we are able to do what we want to do in the summer, then we can make real positive changes to how everybody feels about the football club.
"It's difficult. It's tough. You feel it in the stadium. It wouldn't make me feel very well if I was out there reading stuff and listening to stuff because I do care about it. I'm still a human being, we are not robots.
"It hurts as well because you've got pride. You want to take pride in your job and you want to do a good job for the football club. That side of it hurts, but I realise why and I know what we've got to do to put things right.
"I know that we can be feeling very different in a year's time. It's just going to be a lot of hard work and some short-term pain."
Listen to the full fans forum on BBC Sounds
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