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 South East and owns 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.”