Preston Caribbean Club is facing closure after struggling with cash problems.
The sports and social venue on Canute Street is under threat after failing to pay back a loan of £21,000 to American brewing giant Coors Ltd.
The building has been put on the market to lease for £100,000, but club officials are determined to stay in business and are organising last-ditch fundraising events.
Chairman Clarence Jordan said the club, which opened in 1971, had been struggling for some time.
He said: "I went on holiday and when I came back, I found out the club was on the market. It was a bit of a shock.
"Our club has always been in trouble and had financial problems. Since the smoking ban, there's not been many people using it. It's been in decline for a bit. I hope people can come forward to help."
Caribbean Carnival organiser Dian Flannagan said it would be a "sad loss" to the community if the club closed and called for it to be used more for carnival events such as workshops and for consideration to be given to a merger with Jalgos in Church Street.
One campaigner, who did not wish to be named, said: "The club should not be allowed to close. Money should be given by the government or a private source.
"There could be other ways to keep it open. It could be used as a dance place or a youth club."
Manchester-based Colliers estate agency is selling a 99-year ground lease on the property for £100,000.
Preston's Caribbean community of around 900 celebrates its heritage with an annual carnival, and over the years has set up a successful Caribbean cricket team and the Caribbean and Jalgos Clubs.
Call the club on 01772 253610 if you think you can help.
Do you use the Caribbean Club? What do you think of it possibly closing? Are there enough facilities for the Caribbean community in Preston? Share your memories of the club by calling us on 01772 838185 or email lep.newsdesk@lep.co.uk
>> Vote in our latest web poll
The full article contains 358 words and appears in n/a newspaper.