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Newsome Working Men’s Club Faces Lquidation

Liquidation

| January 28th 2014

More News by Peter Sargent

Newsome Working Men’s Club Faces Lquidation

Following the announcement that Newsome Working Men’s Club (Newsome WMC) near Huddersfield will close at the end of January, business advisers Begbies Traynor are advising on the orderly winding down of the club.

Members are invited to attend a meeting at 7pm on Thursday 20 February 2014 at the club on St John’s Avenue when a vote will be held to decide whether it will be put into liquidation.

Believed to be over a hundred years old, the family friendly club has more has around 250 members and offers a variety of social and sports amenities including crown green bowling, snooker and pool.

“Unfortunately, like many social clubs, over the last three years, membership of Newsome WMC has been falling, leading to serious cash flow problems,” comments Peter Sargent, partner at Begbies Traynor in Halifax. “It is sad to see the end of such a long-established and well-loved community facility, with its excellent bowling green, but the club is simply no longer financially viable.

“On the positive side, the club is currently solvent and also has some valuable assets, so it is likely that all of the known creditors will be paid in full. With its club house and bowling green, there are a number of options available to optimise the value of the site. Some members would like to form a new bowling club and this is certainly a possibility, depending on market interest in the site.”

Begbies Traynor has written to all known and paid up members and is asking any members who have not been notified of the meeting to contact them on (01422) 348448.

Walker Singleton of Halifax has been appointed as agents and anyone interested in acquiring the site once the club is wound up, should contact them on (01422) 430000.


About the author

Peter Sargent

Partner

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Peter is authorised to act as an insolvency practitioner by the Department of Trade & Industry. He is a member of the Insolvency Practitioners Association and a Fellow of R3 (The Association of Business Recovery Professionals). Peter is a council member of R3 and is chairman of the regional activities committee, previously being the Yorkshire regional chairman. Peter began his career in insolvency 1980 at Revell Ward in Huddersfield where he became a partner in 1988. In April 1995 he established Sargent & Company, which merged with Begbies Traynor in November 2005.

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