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Brocket Hall sold out of administration

10.01am 3rd February 2020 - Corporate

Brocket Hall has been sold out of administration for the second time in five years.

The Hertfordshire-based golf and country club, which boasts two 18-hole golf courses, two restaurants, and a 16-bedroom lodge, was owned by Chinese billionaire Yu Songbo, who called in administrators last month after being presented with a winding-up petition by HM Revenue & Customs.

The administrators said that Brocket Hall UK has now been sold to a new company called Brocket Hall (Holding) Limited, controlled by Chinese director Meng Xu. It is unclear if they are connected to Yu Songbo. The sale will allow the business to continue trading as usual and all 160 jobs at the venue will be saved.

Michael Longshaw, who manages Brocket Hall, said trading had showed strong growth in recent months, but it was tipped into administration over an undisclosed tax bill. Latest accounts for the operating company, covering the year to August 2018, show debts of £6.16 million. The club avoided being wound in December 2018 up over the sum of £134,306 after it paid up and the petition was dismissed.

Yu Songbo bought the lease to Brocket Hall for £10 million in 2016 after it had gone into administration under management by German leisure tycoon Dieter Klostermann.

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