Global Edition

 

No deal at SNGC

3.00pm 3rd March 2004 - Corporate

Receiver, Blair Nimmo, head of KPMG Corporate Recovery in Scotland, has announced that the proposed sale of the Scottish National Golf Centre Ltd, which operates The Scottish National Golf Centre based at Drumoig, near St Andrews, has fallen through.
Following a lengthy period of marketing, the Receiver was in receipt of a number of expressions of interests in the business and assets of the Golf Centre and had identified a preferred bidder to whom the company’s leasehold properties could be assigned. The landlord, Drumoig Ltd, has refused to accept the assignation of the leases to this party and has now also served formal notices of ‘irritancy‘ in relation to the leases of the Golf Centre and associated offices.
Blair Nimmo said, “It is with great disappointment that we have had to make this announcement having had a potential purchaser in position to trade the Golf Centre as a golf facility. We would like to thank all parties concerned for their co-operation.”
The Centre, which offered state-of-the-art teaching, coaching and practicing facilities, including an indoor practice area, incorporating cutting-edge coaching technology in the form of the V1 Digital Coaching System, a gymnasium and fitness room, went into receivership on 25th September 2003 with the loss of 13 staff. The range has been closed over the winter months and the remaining machinery and other equipment will now be sold.
The Scottish Golf Union has its offices at Drumoig but severed all its financial connections with Scottish National Golf Centre Ltd last year. A spokesperson said that the Union is currently in discussions with Drumoig Ltd to agree terms under which the Scottish Golf Union can stay in place, at least for the foreseeable future.
Scottish Golf Union www.scottishgolf.com

       

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