The Escondido Country Club, which has been in business for the past 46 years, will close up shop on Apr. 1, club owners announced Wednesday night.
Owners held a meeting with members to discuss the imminent closure of the club located at 1800 W. Country Club Ln. Owners said they would waive member dues and golfing fees for the month of March, but officially close the doors on Apr. 1.
According to owners, the country club is losing upwards of $35,000 per month and, at this point, the business simply can’t stay afloat.
Club representative Michael Schlesinger said the toughest part of closing the doors would be saying goodbye to their 135 current members and 40 employees.
“Regrettably, years of prior mismanagement, subsequent decay and a tough economy led to this end,” Schlesinger added.
The country club has endured its share of financial woes over the past year. The property was placed into bankruptcy in May 2012. The 110-acre club foreclosed in December 2012.
According to owners, club membership has declined from 500 to 135 members in recent years. Those dwindling membership numbers, combined with the recession and swelling operational costs, ultimately led to financial hardship.
For now, owners said they will continue with basic property upkeep as options for the club are explored. Currently, no development proposals exist for the land.