American Golf stores to shut across the country
American Golf rescued from administration by private equity investor Endless, saving 112 stores and nearly 1000 jobs.
An American Golf store that opened in a brand new £250,000 store in Lincoln, has already shut down after less than one year in operation.
The golf chain put up a notice today to inform its customers that it was closed and apologised for any inconvenience it may cause.
According to reports, up to 20 American Golf stores are slated for closure in the following locations: Surrey, Livingston, Crewe, Hertfordshire, Wrexham, Southampton, Middlesex, Essex, Nottingham, Hull, East Dunbartonshire, Worcester, London, Glasgow, Bristol, Belfast and Guernsey.
But despite going into administration last Friday, American Golf was immediately sold to buyout investor Endless.
As part of the deal, teed up by business advisory firm Deloitte, 112 of the chain's 132 stores in the UK and Ireland will remain open.
At the time of appointment American Golf employed over 1,000 people.
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.
"I'm delighted that the sale of the business which we have completed has safeguarded over 900 jobs," said joint-administrator Dan Smith.
"We appreciate the support of management and all employees in achieving this aim and wish them well."
