Upbeat Bowlo meet
THE Bangalow Bowling & Sports Club could be saved from closing its doors in a number of ways, all of which need community support and an injection of funds to clear the club's debts.
A meeting on Wednesday at the A&I Hall in Bangalow was described as "upbeat" by a spokesman for the club's rescue group, Brian Mackney.
He said it showed there was determination to save the club that is now in the hands of an administrator from slipping into liquidation.
"More than 80 people came. We feel buoyed by the community support," Mr Mackney told The Northern Star.
"Now we need to prepare a compelling submission for the administrator by February 13 showing that to sell the club's assets was unnecessary and would be a massive loss."
Mr Mackney said supporters needed to find about $125,000 to pay out the ANZ bank and $23,000 for the Tax Office.
"It's a wake-up call for the community," Mr Mackney said.
"The community made three strong points at the meeting: they want to retain their club; they want their club to change; and they are prepared to dig deep to see that happen.
Bangalow accountant John Hudson told the meeting the group aims to raise $300,000 through the sale of secured debentures to clear the existing creditors, pay off the bank and the administrator's costs and set the club on a new path.
John Vouris, of Lawler Partners, the administrator for the club told The Northern Star the club's directors and/or committee had been given the job of providing him with a plan to re-open the club and "realise some assets".
"That could mean they might consider selling off the adjacent land where the old netball courts are," he said.
"Or someone might come in and use part of the land; or they might reduce the (bowling) greens to one and sell part of the land; or members could help out by putting in money through debentures to refinance the club."
Mr Vouris said it would be up to the creditors to decide what they would accept.
"Operations will be suspended at the club and it won't be reopened until it can stand on its own two feet," he said.