- Prachi Singh |
After the American Golf brand fell into administration on Friday, private equity firm Endless acquired the business saving almost 900 of the company’s jobs, reports The Golf Business. The rescue deal would save 112 stores in the UK and Ireland out of the total 132 stores run by the troubled golf retailer.
The Europe’s largest golf retailer had hired Deloitte to scout for a buyer earlier this month. It was earlier speculated that Mike Ashley’s Sports Direct and JD Sports were among a number of bidders.
Commenting on the acquisition, the report quoted Tom Jack, a partner at Endless, saying in a statement: “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.”
According to the report, the 20 American Golf stores that are slated for closure include locations in Surrey, Livingston, Crewe, Hertfordshire, Wrexham, Southampton, Middlesex, Essex, Nottingham, Hull, East Dunbartonshire, Worcester, London, Glasgow, Bristol, Belfast and Guernsey.
American Golf is now a new addition to Endless’s portfolio of rescued businesses that include jewellery brand Theo Fennell, luggage business Antler and shoe retailer Jones Bootmaker, which was later sold to Pavers.