One of the North-east’s leading insolvency experts, Michael Reid, of Meston Reid & Co, has been appointed liquidator for a once-thriving historic social club.

Huntly and District Ex-Servicemen’s Club closed its doors at the end of March this year. The venue had been in operation since it was registered in November 1920; established between the world wars for veterans to meet socially. The club was regulated by the Financial Conduct Authority (FCA) as a registered society.

Michael said: “Steps are being taken to write to all known creditors and contact each member. Fortunately, there are no redundancies at this stage because the club addressed that issue upon cessation of operating activities.

I have appointed an agent to market the building which is located in the middle of Huntly and it remains to be seen if it will continue as a licensed premises or be converted for an alternative use. It is always sad to see such an established venue close for good.”

The club has played a key role in the Huntly community for decades.

Now 82, Sheena Arthur first attended the club at the age of 18. She officially became a member when ladies were allowed to join in 1999. She later served on the committee, latterly as secretary.

Sheena said the committee fought extremely hard to save the club, which had around 500 members at the end, but that it had become ‘a struggle too far’.

She added: “The club has played a big part in this community for a long, long time. It was set up to be a place for vets coming home from war to go and have a cup of tea and a blether. We organised Remembrance Day parades, darts, snooker, private parties, and even weddings.

We tried so hard to fight back but, sadly, it was a losing battle. It was costing money just to open the door. We had whole families buying memberships and that bought us another two years …but it wasn’t sustainable. People seem to want other things now and the pandemic ruined it. It was the final straw. Unfortunately, we’re not the only ones in a similar position.

We’re doing the right thing now and trying to make sure that all creditors are dealt with fairly. We don’t expect there will be any money left for club members.”

Established in 1990, Meston Reid & Co is an accountancy practice with strong expertise in tax, audit, insolvency, corporate finance, business advice, payroll and landed estates. The firm, based at Carden Place, Aberdeen, has a broad range of clients, from sole traders to large businesses with international operations. 

Michael Reid Michael has held a full insolvency permit since 1989 and has acted as principal in hundreds of formal insolvencies (administration, receivership, liquidation, sequestration and trust deed) and provided support and advisory services to numerous businesses and individuals who have experienced financial difficulty and required specialist help. Michael served on the UK Joint Insolvency Exam Board from 1997 to 2010. He is a regular contributor of insolvency technical articles to various publications.