After trading for almost 30 years, the present structure of Inishowen Tourism is no longer suitable to deliver tourism development services for the peninsula.
A statement issued to the Inish Times said: "The board have been in negotiation with Pobal and have secured the funding and jobs for the remainder of 2017.
"In order to facilitate this process Inishowen Tourism have decided to withdraw from the current Community Services Programme.
"Funding will be channelled through an alternative organisation while the restructuring takes place."
The statement concluded: "This move comes at an opportune time, allowing Inishowen Tourism to restructure and take advantage of all the positive developments regarding tourism in the peninsula, the success of the Wild Atlantic Way, and the unprecedented level of interest in Star Wars."
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