Aston Wood Golf Club swings into deal
A Sutton Coldfield golf club has been sold out of administration, saving 52 jobs.
Aston Wood Golf Club 2000, Little Aston is an 18-hole championship course designed by BBC commentator Peter Allis and Clive Clarke. It was opened in 1994 after being constructed to USPGA standard.
The business and assets have now been purchased by Aston Wood Golf Club, a company connected with the club's landlords Struan Investments.
It hit problems due to the prevailing economic difficulties, according to administrator Begbies Traynor.
An immediate disposal, organised by joint administrators Nigel Price and John Lowe, of corporate recovery group Begbies Traynor, preserved the jobs of 52 employees.
Price said: "While the club has capacity to accommodate 800 members, tough market conditions and competition from other clubs in the local area, led to a fall in numbers. Membership for the current year had dropped to 648.
"This meant the company relied heavily on non-golf functions to generate additional income. Unfortunately, the bad weather in winter 2010 forced the cancellation of a number of key events, resulting in lost revenue."
He said the cashflow constraints mean the club could no longer meet its rental and other overheads commitments. A number of factors combined to make it impossible for the club to be subject to a normal marketing process for sale.
