American Golf, the UK’s biggest golf retailer, has been bought out of administration by specialist turnaround investment company Endless, safeguarding 112 of the company’s 132 stores.
American Golf, which has been owned by Sun European Partners since 2012, was put into administration on October 12, with all 132 of its stores in danger of closing, but Endless has struck an immediate deal to take control of the company through a pre-pack administration rescue that has resulted in 112 of the stores staying open, saving around 900 jobs of the current 1,000-strong workforce.
Sports Direct and JD Sports were among several companies that had expressed an interest in taking over American Golf, but Endless secured the winning bid, which is reported to have been less than £10million.
Tom Jack, a partner at Endless, said: “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. 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.”
The 20 American Golf stores that will close include four located on golf courses and 16 high street outlets. They include Leatherhead, Surrey; Deer Park, Livingston; Queens Park Golf Course, Crewe; Kingswood GC, Doncaster; Great Hadham, Hertfordshire; Wrexham; Ageas Bowl, Southampton; Playgolf Northwick Park, Middlesex; Romford, Essex; Queens Drive, Nottingham; Castle Street, Hull; Bearsden, East Dunbartonshire; Worcester; Finchley Road, London; Lincoln; Glasgow; Middlesbrough; Bristol; Belfast and Grandemare in Guernsey.
The business will honour valid gift cards and outstanding customer orders.