The club ceased trading on June 29 because it was making a loss. There were high hopes in January that New Legion Clubs who run nine other British Legion clubs in the country would take it over but the revamp was put on hold in June when the company had a rethink.

Nigel Sudborough, president of the Oakham Branch held out hope that the club might be considered for refurbishment in the Autumn but admits this is no longer the case.

He said: "We have been in very close discussoins with the Royal British Legion headquarters in Pall Mall and it is now clear to us that the New Legion Clubs in its current concept will not continue as in the past.

"We have been advised that funding from central sources to support the club is most unlikely and therefore in liaison with Pall Mall we have investigated alternatives to keep the club alive. Sadly these have not materalised and hence a meeting of the branch and club has been called to discuss its future.

"In spite of everybody's best efforts this is a very sad moment for Oakham and a club that has been with us for some 60 years. I think we have a duty to tell the members of the situation. This is not unique, there are lots of British Legion clubs closing throughout the UK for the very reasons we are."

Robert Lee, head of public relations for The Royal British Legion, insisted a decision on the Oakham club had not been taken and that all of the New Legion Clubs have been put on hold until the end of October to allow for a six month review.

He said: "They opened in a challenging trading environment and we want an opportunity to review the operations. If at the end of the review the Legion decides it would be a good thing to have a new Legion Club in Oakham then the investment would be made. But no decision has been made and no decision will be made until the end of October."

The Oakham meeting will be held on Wednesday, September 17 at 8pm in the club. One if the purposes of the meeting will be to ensure that the Royal British Legion still has a presence in Oakham.