GATESHEAD Thunder say they will fight on despite the club’s holding company being wound up.

Gateshead & Newcastle Rugby Limited is to be dissolved following a dispute between chairman Steve Garside and the club’s two Gibralter-based majority shareholders.

Garside, who claims he has put £570,000 of his own money into the club since 2005, has decided to call in his directors’ loans which has the effect of winding the club up.

Gateshead chief executive Rod Findlay said: ‘‘The staff are powerless to affect this position, however, they have acted quickly to prepare a survival business plan.

‘‘The plan is based on realistic financial projections but the club will hold a pledge meeting in the next two weeks to gauge the level of support from fans and sponsors alike.’’ The news comes in the wake of the resignation of head coach Steve McCormack, who cited uncertainty over the club’s future for his decision. He was yesterday appointed as head coach of Championship rivals Barrow.

Assistant coach Chris Hood has mobilised the club’s players and Findlay insists the team will compete in 2010.

‘‘This club has a genuine future,’’ he said.

‘‘Chris Hood has met with the locally based players – both existing and potential.

‘‘Even through the obvious disappointment of the holding company being wound up, the players have all shown a desire for them to continue to play a part if possible.’’