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Hampshire social club closes its doors due to financial problems … – Daily Echo

A CLUB with about 1,000 members has sent shockwaves through a Hampshire community by closing its doors after more than 60 years.

The Waterside Sports and Social Club, originally set up for staff at Fawley refinery in the early 1950s, has folded following the failure of a financial rescue plan.

Based in an old cinema in Long Lane, Holbury, the club provided a raft of activities for people living in the area.

Last night insiders said it had debts of about £160,000 and had ceased trading with the loss of several jobs after being declared insolvent.

The decision was taken at an emotional meeting of members – some of whom are said to have been in tears. 

A statement issued by the club’s directors praise…

Read the full article at: http://www.dailyecho.co.uk/news/14964058.PHOTOS__Hampshire_social_club_closes_due_to_financial_problems___see_pictures_from_through_the_years/

Category: BankruptcyBy Insolvency GuardianDecember 14, 2016

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Hampshire social club closes its doors due to financial problems – Daily Echo

A CLUB with about 1,000 members has sent shockwaves through a Hampshire community by closing its doors after more than 60 years.

The Waterside Sports and Social Club, originally set up for staff at Fawley refinery in the early 1950s, has folded following the failure of a financial rescue plan.

Based in an old cinema in Long Lane, Holbury, the club provided a raft of activities for people living in the area.

Last night insiders said it had debts of about £160,000 and had ceased trading with the loss of several jobs after being declared insolvent.

The decision was taken at an emotional meeting of members – some of whom are said to have been in tears. 

A statement issued by the club’s directors praise…

Read the full article at: http://www.dailyecho.co.uk/news/14964058.Hampshire_social_club_closes_its_doors_due_to_financial_problems/

Category: BankruptcyBy Insolvency GuardianDecember 14, 2016

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