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A trustee of Queenborough Social Club says he is heartbroken after the venue served its last drink.
The North Road building closed its doors to members for the last time after a 90th anniversary party on Saturday.
Members voted for the club to fold earlier this year, after it was revealed a debt totalling about £325,000 was owed in unpaid tax and penalties.
The main building, built in 1928, and two semi-detached houses went under the hammer at a Clive Emson auction in October, raising £530,000.
On the final night, entertainment came from comedian Mickey Travis and tribute band Bootleg Bee Gees. All 250 tickets sold out and a staff presentation was held. On Friday an open evening was put held for non-members who wanted to bid farewell.
Singer Annie Love performed and was followed by the Skastards.
Matt Champ, trustee of the club, which has about 400 members, said: “I’m heartbroken. It’s 100% the right thing to do, because I’ve seen the accounts, but it doesn’t mean it’s any easier. A lot of family and friends have had events there. There have been a lot of happy times.
“It was a night that was exactly in the right spirit, which was exactly what we were hoping for.
“It was a very emotional evening, there were grown men crying at the bar.
“It was our anniversary night. It was an amazing evening, it was really good.
“The club is now closed, we’re going to tie up admin this week and completion should be next Friday.”
In the past, thousands were raised for the Oliver Fisher ward at Medway Maritime Hospital, Help for Heroes and other charities, with Mr Champ describing the community as very caring.
An investigation was opened by police earlier this year relating to possible fraud involving a former employee.
A police spokesman has confirmed the inquiry has now been shelved after a civil agreement was reached.