Thu, 16 Jul 2015 | BUSINESS SALE
Mentmore Golf & Country Club in Bedfordshire has been sold out of administration after ceasing trading in June this year.
Grant Thornton was appointed on 3 July to handle the administration and quickly set to work looking for a buyer. The club has now been sold to newly formed company Mentmore Golf Corporate Ltd, which is backed by the club's previous owner, Simon Halabi.
Prior to the administration the company was making losses due to high operational costs and a winding-up petition had been issued against the business by HM Revenue & Customs.
The future of the club is uncertain at the moment, with club members still waiting to hear from the owners about where things will go. Club captain Martin Cowling told the Milton Keynes Citizen: “Many members have paid out considerable sums in five year membership deals – some as recently as last September, and they could be left high and dry by this potentially controversial deal.
“Whilst we are naturally pleased that the ownership of the club has been resolved, we are keen to hear the owner’s plans, as it is essentially the same people running the club as under the previous regime.”
The 50 employees who worked for the business before the administration were laid off when the company went under. It is unclear what form the company will take and how many employees will be brought back on when the new business gets back up and running.
View the latest winding-up petitions.
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LEASEHOLD
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