The sad day for Cessnock Golf Club comes after its board announced the club, in April 2018, had gone into voluntary administration - with more than $10 million worth of debts.

Administrator Simon Thorn, of PKF Australia, said the club had "tried everything and exhausted all options" for continuing operation.

"We extended the administration period and put the club into a deed while we were negotiating a potential amalgamation with a registered club in the area. Unfortunately, we couldn't reach an agreement," he sad.

"In the interim, the club received a clean-up notice from the Environment Protection Authority regarding some contaminants on the land.

"All of it combined meant there really is no other option because it has got significant debts and isn't trading well so it had to close."

The club signed a partnership with Newcastle civil construction company Daracon Group for a $30 million redevelopment of its land for a golf-lifestyle resort in 2005.

The estate is known as Stonebridge Living, and included a 138-lot residential subdivision and an 18-hole Jack Newton golf course and new clubhouse that opened in 2012.

Mr Thorn has organised a meeting for creditors in the coming weeks to work out the club's future, but said he will recommend the club be liquidated.

The creditors' meeting is scheduled to be held in Newcastle at 9.30am on Monday, May 13.

Club captain Peter Conroy said the closure of Cessnock Golf Club was done with "incredible sadness" after more than 90 years operation in the community.

"Over an extended period of time, the club has struggled with debt and trying to keep numbers up. It made a series of decisions to invest in certain spots and take loans on," he said.