Golf equipment firm is looking for new owners – according to report
Warrington based American Golf is looking for a new buyer – according to reports.
The UK’s largest specialist golfing retailer has approached a number of buyers in recent days according to Sky News.
The firm trades from 130 stores across the UK and Ireland and is the biggest supplier of golf equipment in the country.
The sale process is being run by accountancy firm Deloitte according to the report.
Deloitte is understood to have spoken to a number of investors and retailers last week.
American Golf sells big-name brands including Callaway, TaylorMade, Titleist and Wilson.
A source close to Sun European Partners, the private equity firm which has owned American Golf since 2012, insisted that a sale was being marketed on a solvent basis and not as a potential pre-pack administration.
The retail sector has been hit hard over the last year by changing spending habits and the shift towards online shopping.
A previous restructuring at American Golf was carried out in 2015 to “maintain the confidence of its supplier, credit insurers and other key stakeholders”.
According to reports the owners are looking for a sale of the business rather than a Company Voluntary Arrangement.
JD Sports and Mike Ashley’s Sports Direct are being lined up as potential buyers of the chain.
In a recent report American Golf Discount Centre Limited said that participation in golf in the UK “decreased around 8.9% in 2016, following several successive years of decline”.
Accounts for the year to January 2018 have yet to be filed at Companies House.
Owners Sun European Partners have yet to comment on any potential sale.