Global Edition

 

UK Golf Group to be sold as going concern

10.52am 25th January 2010 - Corporate - This story was updated on Tuesday, June 15th, 2010

UK Golf Group Limited and its subsidiaries entered into administration on 14 January 2010. Jason Baker and Geoff Rowley, Client Partners at Vantis Business Recovery Services (BRS), a division of Vantis, the UK accounting, tax and business advisory group, were appointed as Joint Administrators.

UK Golf Group Limited operates in the London area and Essex at three golf clubs, namely Garon Park Golf Complex, Hainault Forest Golf Complex and Stockley Park Golf Course. The business achieved a turnover of £6.5 million in its last financial year and, immediately prior to administration, employed 108 people.

Over the past year, turnover has fallen both due to the recession and the more recent poor weather. Regrettably, the administrators have had to make 15 redundancies across the business, to reduce costs. No further redundancies are anticipated at this stage.

The business is continuing to trade as a going concern and the intention of the administrators is to achieve a sale of the business and assets.

Commenting on the case, Jason Baker said: “We regard the golf courses, both together and separately, as viable businesses, attractive to purchasers within the golf and leisure sectors. Interested parties are invited to contact us for further details.”

Garon Park, Southend, which incorporates a 27-hole course, a driving range and a clubhouse with a bar, restaurant and shop, has a membership of around 400 golfers. www.garonparkgolf.co.uk

Hainault Forest Golf Complex is just 13 miles east of the City of London. It has two 18 hole courses and a 22 bay driving range www.hainaultforestgolf.co.uk

Stockley Park Golf Course, just north of London Heathrow Airport was designed by the acclaimed American architect Robert Trent Jones Senior, It opened in 1993 and has hosted  European Senior and Challenge Tour events. www.stockleyparkgolf.com

Vantis Business Recovery Services www.vantisplc.com

       

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