The Heathcote Services and Citizens Club, which operates as Club Heathcote, has been saved.
The club went into voluntary administration in March this year, however, refinancing arrangements agreed to by creditors will allow the club to reopen in early December.
About 120 members gathered at a special members meeting on the 15th October to support the plan and elect a new board of directors.
Tim Brown was elected president and Simone Pettit vice-president.
Ms Pettit, a long-time club member who is also the operations manager for one of the largest creditors, Generate Group, negotiated the bailout.
“It’s a good outcome for the community,” she said. “Heathcote is a small suburb and the club has been there since 1964 and is a really valuable community facility.
“The new board plans to reinvigourate the club, starting with a community festival day on December 9, with market stalls, food stalls, children’s rides, boutique brewery tastings and live entertainment, including local groups.
”We want to expand the club as a community asset and build on its existing role, and we see success will come from that in the future.”
Ms Pettit said non-club members who had played major roles in saving the club are creditors Tabcorp TGS, Generate Group P/L, Frank Zumbo, an electoral officer for Hughes MP Craig Kelly who worked in a private capacity, and Pieter Timmer, who organised the refinancing.