The homeowners of American Golf, Britain’s greatest specialist golf retailer, are teeing up a sale of the chain almost seven years after rescuing the corporate.
Sources mentioned that Alvarez & Marsal (A&M) was anticipated to be formally appointed within the coming days.
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American Golf, which trades from 95 shops and employs about 600 folks together with part-time workers, sells merchandise manufactured by main golf manufacturers resembling Garmin and TaylorMade.
It was rescued by Countless 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 intervals, with Countless mentioned to have supported the enterprise financially throughout the pandemic.
American Golf has shrunk modestly in dimension because the 2018 deal, with roughly 80% of the shops it acquired nonetheless buying and selling.
The retailer’s probably 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.
Countless declined to touch upon Friday.
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