The Monadnock Country Club will close its doors at the end of the month, according to Ray Gagnon, a member of the board of directors at the club.
“Finances are saying we shouldn’t reopen” come spring, Gagnon said. “We have a fair amount of debt and membership is going down.”
The golf course traditionally closes on Oct. 31, but this year, the club will also close its banquet hall, essentially shutting down operations. There are no events booked at MCC this winter, Gagnon said.
The club, which was established in 1901, has a nine-hole golf course and banquet facilities for up to 175 people.
It is the 13th-oldest golf course in the state.
“The sad thing is that [the club] is an institution in the town, but people didn’t utilize the facilities enough,” he said.
Gagnon said finances and a lack of interest in the sport of golf led to the decision to close.
The club, which once made $200,000 to $250,000 a year, has made less than $200,000 in the last few, Gagnon said. Membership has dropped over the last few years from 120 to 60, and the club is carrying $55,000 in debt, he added.
The property is owned by the MacDowell Colony in Peterborough. In a prepared released, MacDowell lauded the club and its directors for their impact on the community.
“Early this week MacDowell was saddened to learn that the Monadnock Country Club has decided to close its doors at the end of the 2016 golf season. Despite losing the battle with declining membership, the club’s leaders are to be commended for providing more than a century of wholesome family fun and recreation for Peterborough residents and those of neighboring communities,” said David Macy, resident director at MacDowell Colony.
The most recent assessment of the property values it at about $900,000, according to online records.