Plans are in place to safeguard the future of the Adur Outdoor Activities Centre site.
The business is to be liquidated at a creditors meeting in Worthing on November 12.
West Sussex County Council and Adur District Council have already been approached by third parties interested in taking over the building.
The intention is for a suitable operator, with a viable business plan, to reopen the centre by spring 2016.
As part of any agreement, leisure and community facilities will have to be resumed.
County Council Leader Louise Goldsmith said: “We understand how important community facilities at the centre are for residents.
“The good news is that a number of parties have indicated to us they would be interested in taking on the building.
“There will be a pre-requisite that leisure, youth and community facilities continue at the site.
“The aim is to have a replacement tenant in place by next spring.”
The County Council has agreed to take possession of the building following next week’s meeting.
It is installing a guardian company to keep it secure while the building is vacant.
Shoreham Sailing Club and Shoreham Canoe Club both use the centre’s compound to store equipment.
The county council will allow their equipment to remain stored at the location throughout the closure.
The county council has asked Adur District Council to widen the terms of the lease.
This will allow the building to be sub-let for a variety of community uses.
A public consultation asking residents what should be provided at the centre is being planned for next year.
Adur District Council leader Neil Parkin added: “Adur Outdoors Activity Centre has played a crucial role in our community, and I am very grateful to the previous owners for their efforts.
“Equally, I am confident that West Sussex County Council will find a very worthy new owner, who will be able to run an excellent business and a first class activity centre.
“Adur District Council looks forward to facilitating a smooth transition of new ownership early next year.”
Don’t miss out on all the latest breaking news where you live.
Here are four ways you can be sure you’ll be amongst the first to know what’s going on.
1) Make our website your homepage
2) Like our Facebook page
3) Follow us on Twitter
4) Register with us by clicking on ‘sign in’ (top right corner). You can then receive our daily newsletter AND add your point of view to stories that you read here.
And do share with your family and friends - so they don’t miss out!
Always the first with your local news.
Be part of it.