Oct 20th, 2018
20 American Golf stores set to close
After company goes into administration and is then bought by VC
American Golf has been rescued from administration by private equity investor Endless, in a move that will save 112 stores and protect 900 jobs, but 20 stores are due to close.
Accountants Deloitte were bought into find buyers at the beginning of the month, but the business officially entered administration on Friday 12th October. American Golf was then immediately bought by Venture Capitalist Endless.
112 of the company’s 132 stores will now continue to trade, which will save 900 of the retailer’s 1000-strong workforce from redundancy.
“American Golf holds a unique position as the UK’s golf market leader and has been providing specialist expertise to its loyal customer base for over 45 years,” Endless partner Tom Jack said.
“We believe this is a business with fantastic potential and we’re delighted to be able to protect the employment of over 900 employees as a result of this acquisition.”
It is understood that the new management will honour valid gift cards and outstanding customers’ orders, but it is not clear how golf industry suppliers will fare in this process.
A total of 20 American Golf stores are to close as part of the deal.
The outlets affected are:
Deer Park, Livingston
Queens Park Golf Course, Crewe
Kingswood Golf Course
Ageas Bowl, Southampton
Queens Drive, Nottingham
Castle Street, Hull
Bearsden, East Dunbartonshire
Finchley Road, London