Does the rescue of Harleyford show the industry is over the worst?
A golf club that is looking forward to what its administrator has said is a ‘promising future’ could be the sign that the industry is over the worst after several years of course closures.
Harleyford Golf Club entered administration after experiencing what has been described as ‘trading difficulties’ – and the situation was so bad that the club effectively lost all the paid members’ subscriptions.
In recent years many golf clubs that have found themselves in this situation have simply closed down for good.
However, Harleyford Golf Club has now been bought from the administrator by Harleyford Golf Club Marlow, a wholly owned subsidiary of The Harleyford Group, which is the landlord of the golf course.
The new owner has said it will invest in the club and will not require the members to pay their subscriptions for the second time this year.
Spokesman Rob Marsh said: “We are delighted that we’ve been able to bring the club back on a freehold basis.
“This acquisition will sit well within our existing leisure group and we very much wish to preserve the reputation and goodwill built up over many years.
“We believe Harleyford can be one of the premier clubs in the area and we’re looking forward to working with the members on this exciting new chapter in the club’s history.”
The purchase saves 12 jobs and has been praised by the administrators, John Kelly and Nigel Price of business rescue and recovery specialist Begbies Traynor.
Mr Kelly said: “Harleyford Golf Club is an absolutely superb golf course, which has a promising future ahead of it under new management as there is to be significant investment in the course and facilities, as well as changes to membership options.”