The Golden Cow in Tongala could close on Sunday without a $40,000 funding injection.February 14, 2014 4:12pm
Tongala’s Golden Cow has a couple of days to find a white knight otherwise its doors will close.
The Golden Cow’s board has said without a $40,000 injection by Sunday the tourist attraction will be forced to close permanently.
Chief executive Cath Hughes said the Golden Cow was verging on insolvency, with income unable to cover its expenses.
Mrs Hughes said the impact of drought, the global financial crisis, regular theft and increased costs made the Golden Cow’s business model unsustainable.
Mrs Hughes said the $40,000 requested would afford the business time to hatch a new plan for its future.
‘‘It would buy us time for a new business plan,’’ she said.
‘‘The attraction of the Golden Cow is a little tired and we are the first to admit this.’’
One of Tongala’s biggest employers, HW Greenham and Son, had already pledged $10,000 to the Golden Cow, while Nestle has refused to pledge.
Mrs Hughes said she also hoped for contribution from leading employer McColls Transport.
Mrs Hughes said the Golden Cow would be open from today until Sunday, from 10.30am to 4pm.
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Tongala Football Club lost to Rumbalara in the Murray Netball League on Saturday by 14 points.
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