The 90-year-old club will remain open through February 15, then sold at public auction on February 19. The 55-acre property includes a clubhouse, pool, tennis courts, and a nine-hole golf course.
A combination of factors have taken their toll on the Fayetteville (Tenn.) Golf & Country Club, forcing the sale of the property at public auction next month, the Fayetteville Elk Valley Times reported.
Supporters, though, are hoping the situation becomes a good opportunity for a new era in the history of the 90-year-old establishment, perhaps as a new development keeping with today’s trends and needs, the Times reported.
“After many years of struggling financially, the club will be closing,” Elizabeth Williams, President of the club’s Board of Directors, wrote in a letter to members Friday, explaining that the club has not been able to pull together the funds necessary to avoid foreclosure.
“Today’s society is changing, and country clubs across the country are struggling,” Williams told the Times. “Our membership is at the point that financially we can’t support the club and continue operating. We’ve all got heavy hearts over this, but we also know that we’ve done our best.”
The club will remain open through February 15, and will be sold at auction on February 19 at the Lincoln County Courthouse at 10 a.m., the Times reported
“We want to thank our employees. They’ve been the best and have really hung in there with us,” Williams said, noting that many have taken pay cuts and reduced hours in an effort to try and make the situation work. “And we want to thank the Bank of Lincoln County and Charles Gleghorn, too. The bank has supported the club for many years. Although our situation is certainly unfortunate, this is about facing the reality of our club’s financial situation.”
The club and golf course have been integral parts of Fayetteville and Lincoln County for much of its nine decades, hosting numerous industry events as well as community golf tournaments benefiting the Chamber of Commerce and Motlow College Foundation. It has also opened its greens to local high school golf teams for use at no charge, the Times reported.
“The country club has really been an asset to the community here, and we know that the facility and golf course can continue to be a wonderful asset,” said Williams. “With the right buyer or group of buyers, there is so much potential for the club to remain an asset to our community.”
In addition to the clubhouse, which includes a restaurant, bar, and pro shop, the property includes a pool, tennis courts, and a nine-hole regulation golf course. The development includes approximately 55 acres, the Times reported.
“We have another five weeks to enjoy our club and support our employees,” Williams added in the letter. “From what I hear, it is actually supposed to warm up a bit so we want to invite the community out to take advantage of the warmer weather and play some golf with your friends. Winters rates are $25 for 18 holes.”