Wagga Commercial Club's board and management have announced the venue will close permanently due to years of losses and the "unpredictable economic climate".

A Wagga RSL and Commercial Club statement thanked its 26,000 members and the community "for their ongoing support of the Commercial Club over the last eleven years".

"Our decision has not been taken lightly, and you can be assured that our focus will now be on minimising the impact on our staff and stakeholders."

The club emailed members on Thursday morning saying it was the "end of an era" for the restaurant and function centre on Gurwood Street, which would close "immediately".

"In 2009 the Wagga RSL Club gave the Commercial Club a lifeline by agreeing to a merger. It was an exciting time, as we took the opportunity to rebuild the Commercial Club, investing more than $2 million to turn it into a modern, inviting venue for members and visitors alike," the email stated.

"However, ongoing years of losses and the current unpredictable economic climate has forced us to conduct an extensive review of our current operations.

"After much deliberation and with deep regret the Board & Management is announcing the closure of the Commercial Club effective immediately."

The email assured Commercial Club members that the Wagga RSL Club would continue operating.

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"In light of the uncertain challenges we face, we believe this is the right decision to make in order to secure the future growth and resilience of the RSL Club," the email stated.

"This will help us to continue supporting our community and protecting our traditions.Our focus will remain on you and on what is best for our community and staff. Know that we share your disappointment, and have worked hard to minimise the impact that this closure will have on you.

"In future, the RSL Club will become an even more important hub of our community as we continue to improve and grow the facilities and services you know and love.

To those of you who supported the Commercial Club over the last eleven years we sincerely thank you. The friendships, the celebrations, the shows, the meals, the drinks, and the good times will remain fond memories for us all."

Both the Commercial Club and Wagga RSL announced in May that they were changing caterers.