The club has faced significant financial challenges, and efforts by the board of directors and financial controllers to address the issues and seek alternative funding arrangements have been unsuccessful.
In a letter to members, the board and general manager said they had been unable to secure any further financial support.
Efforts had included seeking support from other clubs, mergers and reviews of the business model.
Low club patronage over the years resulted in the decision to close.
Board member David Harrison told The Free Press that the club was confident it could meet all its financial commitments, however, the decision was made to close now to avoid trading insolvent.
“Our general manager, Ashley Boyd, has tried every avenue to try to save the club,” Mr Harrison said.
“But he’s had to draw a line in the sand that we can’t cross or we run the risk of insolvency.”
The club is a substantial employer in Corowa and has said there will be further updates regarding details on how operations will be wound down and staff employment would be managed.
The club remains fully committed to its obligations to members and the participants in the upcoming Summer Classic Ambrose tournament.
The event will proceed as planned, and the club will ensure it runs smoothly, which includes providing all hospitality, accommodation and event management.
Currently, there is no material change to the club's daily operations, and the last day of operations open to the public will be Sunday, February 22.
14°C