Historic Miller Park Sport and Recreation Club has closed its doors just five years after being bailed out of financial ruin by Greta Workers Club.
The Branxton outlet closed its doors after a board meeting on Tuesday night.
Secretary Manager of Greta Workers Club Phil Johnston said Miller Park's three employees have been absorbed by its parent club.
In August 2015, boutique insolvency and advisory firm Rapsey Griffiths brokered the deal with Greta Workers Club when Miller Park found itself burdened with a big renovation bill and a decline in patronage.
The firm helped the board determine that it was not possible for the club, formed in 1955, to trade its way out of difficulty. Instead they sought expressions of interest on an amalgamation.
A statement on Greta Workers Club Facebook page said that during the last three years Miller Park has incurred losses of $69,415 (2018), $126,230 (2019) and $111,188 (2020). In addition to these losses capital expenditure on Miller Park has been $170,818 (2018), $67,758 (2019) and $103,860 (2020). "Total cost of operating Miller Park for the last three years was $649,269," the statement said.
The figures were provided by Cutcher & Neale Assurances Pty Limited - the independent, external auditing company.
"I'm not happy about it," Mr Johnston said. "We took over five years ago when they were broke and wanted to amalgamate. Ever since it has been a down hill run. We didn't get the community support that we thought we would - particularly with the development of Huntlee."
At the time Greta Workers took over Miller Park the workers club paid out Miller Park employees' superannuation and individual taxes. "We didn't have to, do we did in good faith," Mr Johnston said.
An additional $1million was also paid to the National Bank and other debtors.
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