Sights set on Fishos’ future
A PROPOSED deal between the Coffs Harbour Deep Sea Fishing Club and the North Coast Hotel Group could provide a new lease of life to the iconic venue.
The North Coast Hotel Group, which owns the Hoey Moey, Moonee Tavern and Seaview Tavern, has signalled an agreement to financially back the club in a move that could see the venue reopen in October.
The news comes as the club was heading for liquidation after Coffs Harbour City Council, acting as the corporate manager of the Coffs Coast State Park Trust, announced it would not extend the club's current lease.
But on Thursday, creditors agreed to a Deed of Company Arrangement (DOCA) proposal that would see the North Coast Hotel Group not only bring the cash injection the club needs, but also provide its expertise in managing operations.
Coffs Harbour Deep Sea Fishing Club president Bill Mabey said the partnership was a first step in moving towards a restructured business.
"There are a range of exciting opportunities that are on the drawing board and I believe that the tide is now flowing with us, not against us," Bill said.
"The partnership would allow the club to re-focus on its core objectives related to recreational fishing, expanding our fishing base and improving our fishing events.
"Now is the time to learn from the past and look to the future."
Should all go to plan, the re-opening of the 51-year-old venue would mean the club could continue to employ more than 20 local staff members, while unsecured creditors would receive higher returns than if the club was liquidated.
An opening date of October 1 has been targeted, however many regulatory approvals and other processes still need to be addressed.