The homeowners of American Golf, Britain’s largest specialist golf retailer, are teeing up a sale of the chain practically seven years after rescuing the corporate.
Sources stated that Alvarez & Marsal (A&M) was anticipated to be formally appointed within the coming days.
Cash weblog: Main retailers ‘duping’ buyers with TV reductions
American Golf, which trades from 95 shops and employs about 600 individuals together with part-time employees, sells merchandise manufactured by main golf manufacturers resembling Garmin and TaylorMade.
It was rescued by Limitless in 2018 after a sale course of which additionally concerned the Frasers Group billionaire Mike Ashley.
The chain’s possession has included the COVID pandemic, when non-essential retailers had been shut for extended durations, with Limitless stated to have supported the enterprise financially throughout the pandemic.
American Golf has shrunk modestly in dimension for the reason that 2018 deal, with roughly 80% of the shops it acquired nonetheless buying and selling.
The retailer’s doubtless valuation right now is unclear.
It was beforehand owned by Solar European Companions, one other funding agency, which acquired it from LDC, the personal fairness division of Lloyds Banking Group.
Limitless declined to touch upon Friday.
