Global Edition

 

BDO called in at ailing golf resort

8.00am 15th September 2006 - Property

Administrators from BDO Stoy Hayward have been called in to run the Bristol Golf Club and the accompanying Bristol Inn after both were crippled by debts repayments.
The Bristol Golf Club, which is held on a long lease, is set in 200 year old historic parkland with mature trees, numerous water features and magnificent views over the Severn estuary and surrounding countryside. It is situated just off Junction 17 of the M5 and has around 700 members.
Constructed in 2000, the 6,111 yard course is built to USGA specification. The routing follows the natural contours of the parkland landscape and offers 18 memorable holes with water features on ten holes.
Last year the Club was host to a PGA Euro-Pro Tour event, televised on Sky Sports, for the second time in three years.
The Bristol Inn has 46 rooms and was officially opened by rugby union star Lawrence Dallaglio in October 2004.
The golf course and hotel are run by separate companies but share four directors. They employ about 100 full and part-time staff and it is understood there will be no immediate job losses.
BDO joint administrator Graham Randall said the businesses got into trouble “largely through repaying the interest on their borrowings of £6m. We have yet to establish what the other level of debts are.”
Randall said the extent of borrowings would only become apparent over the next few weeks. “We are now trying to sell the business as a whole but, realistically speaking, the golf club and the hotel will probably be sold off separately.”
The Bristol Golf Club www.bristolgolfclub.co.uk

       

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