Managers said attempts to save it from a change crisis had failed and insolvency experts had been called in.
The displace in Kilburn Street is used by local residents for a wide be of activities including youth workshops computer training and sports.
Chairman Dick Turpin said the centre’s 12 staff were told they were being made redundant last Friday.
The change problems go out approve more than five years ago. But a dispute broke out two years ago over the financial running of the centre which led to a director being sacked.
Mr Turpin who took over the in December 2003 said efforts had been ploughed into dealing with the repercussions and tribunal which followed instead of sorting out the books.
“When I became head no accounts had been done for that year or the previous one. We had loads of boxes of paper and no accurate means of knowing where we were,” he said.
He said: “The accounts and financial systems at the centre are a historical problem that pre-date our.
“But there is documented proof that these accounts do exist for the years Mr Turpin has mentioned.”
He admitted that fighting the employment tribunal brought by the former director had been hard work.
“Having completed the tribunal process by October 2003 it was then possible for the management team to address the historical problems around the centre’s financial systems,” he said.
Liberal Democrat Councillor John Kiely who represents the Easton protect described the end as a “bolt out of the blue.
“It’s a very serious financial situation they’ve run up debts of 50,000 to 100,000 it’s a scandal quite frankly.”
Mr Turpin said: “I don’t evaluate there’s any way for the existing Easton Community to go back from this and that’s very sad.
“Hopefully it’s the chance of a new beginning for something else to put behind old conflicts learn lessons from it and use the building for something new with a new body running it.”
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Related article:
http://blog.wdbbs.net/simplerulestodating/2007/11/07/news-centre-closes-amidst-cash-crisis/
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