AFTER three long years of operating under voluntary administration terms, the Leeton Soldiers Club is officially back on its feet.
However, club president Barry Greatz said this was no time for the business to rest on its laurels.
In early 2013, Leetons largest club was hours away from closing its doors permanently.
Administrators were called in and the community was called on to assist in raising hundreds of thousands of dollars to ensure that didnt happen.
The community got behind its club, but it was then up to the Soldiers Club board and staff to tighten the ship, make improvements and prove it could pay off its debt.
That has now been achieved and the club has been formally released from the deed of company arrangement with its creditors, which was facilitated by administrators RSM Australia.
(The) club is an important institution in the Leeton landscape and it has re-established itself as a leader in the hospitality industry in Leeton, Mr Greatz said.
Our club employs over 60 (people) and contributes over $1 million annually to the Leeton economy through wages alone, and provides vital customer services for many business people in the area.
We still have many challenges in front of us, but with the continued support of our members, and the community, our club will strive to remain the best possible venue for all patrons now and into the future.
We also acknowledge the valuable contribution of club members, Leeton Shire Council and the Save our Soldiers group for their contribution and support over the period of administration.
The news of the official release came on the back from a solid year financially for the club. For the 2015-16 year, the club posted a financial trading profit of $331,931.
Club secretary-manager Adam McIntyre said to survive the last three years had provided many challenges.
He said the only way was up from now on.
We are on track to be completely debt free by December 2017 and that will be quite an achievement, Mr McIntyre said.
The club will have retired around $1.8million in debts over a four-year period. We have commenced some minor cosmetic changes to the building to increase patron comfort and those projects will continue over the next period of time.
The challenge is with us to remain an attractive entertainment destination for the community. The Leeton community has been fantastic over not just the last few years, but for over 75 years and we would be hopeful that we will remain in their plans as a destination that can satisfy a number of leisure and entertainment needs.