The news comes just 30 months after the venture began, with COVID-19 and a shortage of public support being suggested for the facility's lack of success.

The company which owns Mt Providence, New Aged Projects No.2 Pty Ltd - still directed and owned by Dylan Walsh, has appointed SV Partners as liquidator. KordaMentha are now the receiver and manager, after they were appointed by Zagga Investments, who are the secured lender of the asset.

Given two month's notice to leave, residents claim they were left in the dark about the facility's operations.

Mr Walsh has moved to reinsure those being evicted that it was not his decision, and all 'accommodation entry fee liabilities' would be guaranteed - even if it comes out of his own pocket.

Tenants aren't so sure though, and say even if they receive up to $50,000 back, it would be nothing on what they paid to purchase units at Mt Providence in the first place, leaving them out of pocket.

Mt Providence resident, Shirley,* who has lived in Muswellbrook for around 70 years is now been forced to say goodbye to her friends and years of memories as she moves in with her daughter in Maitland.

She revealed that she did not want to go, but simply cannot afford to purchase another property in town having spent approximately $160,000 to reside at Mt Providence.

Shirley expressed hope that the site would remain a retirement village and nursing home, but that she would not come back even if that was the case.

"No [I wouldn't come back], not after this, it's been too much stress," she stated.

These feelings were shared by her friend and fellow resident, Jeanie*, who spoke of her disappointment when they were told about the company's financial situation.

"[I felt] shock, absolute shock to think we were told last minute they were going into liquidation, and then we were told a little bit later that we had to go," she said.

"No 'we'll find you alternative accommodation - you just go', too bad if you have nowhere to go to."

Some evictees have been lucky enough to find a new home in Muswellbrook through the Anglican Church, or even had enough reserves to buy a spot at the Calvary nursing home.

However, reigning Muswellbrook Citizen of the Year, Len Kelman, understands that is not an option for everyone and is calling for a local investor to buy the property and ensure it remains an affordable option for elderly people in South Muswellbrook.

Despite usually being reserved in his language and letting his actions do the talking, Mr Kelman said it was "a crying shame" the public had allowed it to happen.

"Our older citizens need better, they deserve better, they've served this town well and had a lot of contributions," he said.

"And for them to be treated this way is an absolute shame and I'm pretty emotional about it."