The club’s board of directors announced on February 12 that they could not financially sustain the facility and would be ceasing operations.
Corowa-raised pro golfer Marcus Fraser called a community meeting, held the following Wednesday at the club, to discuss the future of the golf course.
Fraser contacted local businessmen, Malcom McLean, Richard Sargood, Brett Cuthbert and Graeme Chester, to ask for their help to put together a fundraising strategy to save the club.
In less than one week the group came up with several fundraising events aimed at raising more than $200,000 and announced at the meeting that help was available to keep the golf course open.
Golf NSW CEO Stuart Fraser was contacted to help with a viable long-term business plan to take the club forward.
At the meeting, he offered to audit Corowa Golf Club to determine its financial position and how it could become a profitable club again.
Club Corowa later announced the acquisition of two parcels of high-security water in response to the significant cash flow challenges being experienced by Corowa Golf Club.
In a meeting held last Thursday, Corowa Golf Club announced the course and pro shop would remain open while working to eradicate debt before entering a period of voluntary administration.
In Australia, voluntary administration is a formal, short-term insolvency process where directors of a financially distressed company appoint an independent administrator to take control and restructure to save the business.
General manager Ashley Boyd said the recent sale of two parcels of water to Club Corowa, totalling 54 megalitres and almost $500,000, went a long way to helping the club achieve this.
Further updates regarding fundraising for the future of the club, and the operations of the clubhouse, will be provided as they arise.
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