There are many reasons why the members of a co-operative may choose to close. It may simply be that the members have moved in a new direction or the reason for establishing the co-operative no longer exists.
Sometimes, economic conditions or changes in business circumstances will lead to closure. In some cases, a co-operative may be experiencing cash flow issues, in more serious situations a co-operative may find that it cannot pay its debts as and when they fall due.
As there are legal and financial implications for closing a co-operative, it is important that members of the co-operative obtain their own independent advice about how to proceed.
Generally, there are three circumstances under which a co-operative may close:
Procedures to wind up or deregister a co-operative are available from Registry Services to assist in this process.
For further information please contact:
Po Box 22
154 Russell Street
Bathurst NSW 2795
Tel: 6333 1400
Freecall: 1800 502 042
Fax: 6333 1444
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