In 2002, Goodna Services Club approached HCS to help save their club from inevitable closure. The Club was trading while insolvent, had a substantial outstanding debt and as they stood had no chance of recovery. The club’s Board saw a partnership with HCS as their only chance for survival.
HCS purchased the freehold title and cleared all outstanding debts. A leaseback arrangement was implemented by the Club, and in addition, HCS loaned them sufficient funds on an unsecured basis. This enabled them to renovate the venue and update their gaming fleet. Within three months under HCS management, the venue was producing profits again. Within two years, all debts and all refurbishment loans had been repaid in full to HCS.
In 2011, the Club was hit with devastating floods, which inundated the premises up to the roof of the third level. The structure alone barely survived, causing the business to lose everything (due to its location the premises had been unable to secure insurance). Fortunately, the Club had some accrued profits and with the assistance of bank finance and HCS, re-building began.
Fast forward 18 months to July 2012, the all-new Goodna Services Club re-opened for business after trading in a temporary venue for 12 months. Goodna was again powering ahead and has continued to do so to this day.