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Preston social club saved from financial collapse by generous member

Posted on - 19th March, 2017 - 7:00pm | Author - | Posted in - Preston City Centre, Preston News
New Meadow Street club is understood to be on the brink of closure Pic: Joe Baxi
New Meadow Street club had an emergency meeting called Pic: Joe Baxi

A Preston social club has been saved from the brink of bankruptcy by an anonymous donor.

New Meadow Labour club in North Road was facing having to close its doors on Saturday.

An emergency meeting of members to find a solution to the thousands of pounds owing to the brewery and other debts.

The debts have now been cleared after an unknown member came forward to loan the club £25,000 interest free.

Members were told an investigation has been launched into financial irregularities at the club, and this has seen the secretary Chris Smith suspended along with his wife, the stewardess, Patti Smith, who has handed in her resignation.

Lancashire Police have been informed and documents passed to them for investigation.

A member of the club’s board said: “We are very grateful to the member who has shown their love for the club with this act.

“An investigation is underway into what happened with the club’s finances but we would like to reassure members we are open for business.”

The club has around 3,000 members and before moving to North Road spent decades in Meadow Street.

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