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Keswick Labour Club members have voted to put the Lower Main Street premises up for sale with a £500,000 asking price.
They say the club is no longer viable although chairman Tom Garty said he was "gutted" by the decision.
Mr Garty said: "I didn't want it to be sold, but it was put to the vote at a recent meeting and members said it should be. It is such a sad time. I am down here on during the week from 4pm until 11 keeping the club open and on Fridays and Saturdays we are open from noon until midnight."
He said the club, which opened in the 1950’s, had been losing money for a number of years and members just think it is no longer viable. At one time there were hundreds of members, but that has now been reduced to just 150, and some of these are from out of the area.
Mr. Garty said: "Part of the problem is we are detached from the main part of the town centre. We still get locals in for a pint and a crack after they have finished work, but we don't sell food and have little passing trade."
The club, which is on sale through local land agents Edwin Thompson, has had one viewing, but no firm offers yet. Mr Garty has vowed he will keep the club open as long as possible.
Keswick Labour Club is owned by the members themselves, but once it has been sold and the debts paid, any excess will be shared out equally among the members.
*The picture shows members enjoying a party night at the club exactly a year ago.
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