One certainty for Country Club
ADMINISTRATOR says last night's information meeting successful.
Thursday 09 June 2016
THE only certainty to come out of last night’s meeting on the future of the Blackwater Country Club and its 40 employees is that it depends on the Blackwater community.
The Blackwater Country Club called in the administrators a fortnight ago, in an attempt to find a financial way forward as losses in the business mounted, due mostly to the ongoing downturn in the resources sector.
Administrator Peter Lucas told the Blackwater Review he was happy with last night's meeting, and the club will continue to operate as normal for the foreseeable future. However, he says its long-term survival will depend on how well it's supported.
“The main problem for the club has been the economic environment following the downturn in the mining sector," he said.
"There were other issues, but they are not worth talking about, the past is the past, and we have to look to the future.
“The club has great staff, and they are all working really hard to get the best outcome.
“We will do some things to try and improve the performance of the club, but I am appealing to all members to use it.
“Put it this way, if each of the club’s 2000 members visited once more a month and spent around $20 it would improve the bottom line by about $250,000 a year, enough to save it.”
The role of the administrator is to assess the financial position of a business and whether it can work its way out of trouble.
If a business is unlikely to trade out of its problems, then administrators will recommend the “liquidation” or sale of the businesses assets to pay creditors.
However, in this case, that is less of an option because it is a not-for-profit club, meaning the only business that could buy it is another not-for-profit club.
Mr Lucas says they have not set any deadline for when they will make a decision about the future, but wants to hear from anyone who can see a way forward.
“We haven’t got it marketed for sale, but we would love to hear from anyone who ideas for saving it.”