Spiraling energy costs have been blamed as one of the main reasons behind the shock closure of Mount Murray.
The hotel and country club also struggled after difficulties with an insurance pay-out following a fire 14 months ago that gutted the accommodation block.
Managing director David Lyons says this, coupled with the expense of heating the facility, has been financially crippling.
He's questioned how the Island's fuel costs have continued to climb whilst UK prices have hit their lowest levels in years:
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