The following is the statement issued by the ‘steering committee’ of Castleisland Members Golf Club which recommended winding up the affairs of the club on financial grounds and to avoid the liabilities of deeper debt creation and of reckless trading.
The much praised Tulligubeen facility, first mooted in the late 1990s, was eventually converted from its former Castleisland Shooting Grounds operation and opened to local acclaim and welcome in June 2002.
Killorglin Club Closure
The closure announcement follows on the heels of that from another 1990s established club in Killorglin – and for similar, cash strapped reasons.
The Castleisland club’s steering committee circulated the following letter to members following a series of emergency meetings on a crisis which had only deepened since Christmas through weather conditions. A fall-off in club membership and the recent restrictions on playing due to the Covid-19 outbreak impacted most heavily on the future of the club and the bells tolled for the near 18 year old course.
Dear Member,
“Recent years have been very challenging for golf clubs with the huge fall off in membership. Our own club is no exception. We consider that our club is no longer a viable enterprise.
Following Government advice the golf course closed on March 24th. due to COVID-19.
We do not expect it to reopen.
€40 Less Than Planned
“Income from three planned fundraising events, from green fees and societies and from sponsorship will be some €40k less than planned for, with the economic downturn causing significant financial issues for many individuals and families.
Bad weather for three months with so little golf played and now the COVID-19 emergency have seen about half of 2019 members renew subscriptions in 2020, the majority making partial payments.
Well Attended EGM
“At the recent March 8th emergency general meeting (EGM) which was so well attended and full of enthusiasm and commitment to drive forward.
We presented a list of creditors and also an Income/Expenditure sheet for 2020 which
balanced.
The positivity at this EGM was not matched by the expected payment of outstanding subscriptions by the due date of March 17th.
Non-Recurrent Income
“In 2019, we offered five year memberships taken up by 10 members; we had the tee box signs at €500 each and a bank loan totalling €48k.
This was non-recurrent income, and impinged on the finances of 2020.
We considered our options at length; examined ideas from members, sought professional advice,
engaged with national politicians and consulted with CEO of Golf Ireland, Pat Finn.
Not Enough Members
“Unfortunately, we have not enough members to run a golf club.
Therefore, it is with huge sadness that we recommend that Castleisland Members Golf Club should be wound up on April 6th. 2020.
We do not have sufficient funds to pay all of our creditors in full or to compensate paid up members.
We will finalise the financial affairs of the club over the coming weeks.
Reckless Trading
“A further email will then be issued. We are all, as members, liable for the debts of our club.
It would be irresponsible to continue and accumulate further debt.
We were advised, due to the precarious position of our club, taking any further subs or incurring any more unpaid invoices beyond March 17th. could be viewed as reckless trading.
New Ideas ?- Now is the Time
“We recommend that the limited assets of our club are now used to pay outstanding debts.
If any group of you feel you have a plan which could rescue the club, then please set up a new ‘SteeringcCommittee’ and we will support it in whatever way we can.
As assets such as machinery will need to be dispersed next week then such a plan needs to be presented urgently.
“Thank you for fantastic support over the years.
Yours in Golf,
Steering Committee, Castleisland Members Golf Club 2020.”
