NAPLES — Shareholders of the Naples Golf and Country Club have decided to close the golf course and sell off the club’s assets, according to a news release.
The prepared release, bearing the country club’s logo and distributed by the Sebago Lakes Region Chamber of Commerce, says the decision to close and liquidate was made at a Dec. 11 special shareholders meeting.
“After many years of effort, investment and improvements, the financial viability of the golf course operation has not improved enough and combined with the declining number of golfers visiting and supporting the golf course, the decision for this recommendation was inevitable,” according to the release.
The club’s board of directors recommended the closure, sale of assets, and dissolution of the club corporation, which the stakeholders approved.
The stakeholders also rejected a private group’s offer to purchase the entire course, according to the release.
“The board will now move forward with determining the best way to liquidate and sell off all of the assets in whole or in part, and to review any further offers that may be received.”
According to the club’s website, it was founded in 1921 as a nine-hole golf course and was expanded to 18 holes in 2000.