American Golf has been purchased by private equity investor Endless after it entered administration last Friday (12 October), saving 900 jobs and 112 stores.
The investor bought the retailer immediately after it entered administration, after it previously rescued shoe retailer Jones Bootmaker in the same fashion last March. As many as 112 of American Golf’s 132 stores will continue to trade with 900 of its 1000 strong workforce retained.
Endless partner, Tom Jack 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.”
Retail giants Sports Direct were also said to have been in the running for the golf retailer according to Sky News, with the paper reporting that the Endless deal was worth less than £10m. American Golf’s new management is expected to honour all gift cards and outstanding orders.
American Golf had appointed retail consultants Deloitte to handle the sale of its retail brand. The company will still close 20 stores including Leatherhead, Romford and Glasgow.