December 10 2013 Latest news:
Tuesday, October 15, 2013
The company behind a golf club near Woodbridge has gone into administration.
Seckford Golf Club, which has 17 employees and 540 members, remains open while administrators from Larking Gowen look to sell Golf G.B. Ltd, a commercial company acquired by golf club members about five years ago.
The company got into difficulty after it was unable to service historic debt in spite of recent efficiency savings, joint administrators David Whitehead and Andrew Kelsall said.
But the club itself is thriving, with membership growing and will continue as normal with events that are booked going ahead as planned, Mr Kelsall said.
“Whilst the golf club operates through a limited company, the directors and shareholders are only doing so as trustees for the golf club members,” he explained.
“There was a deal where the company and liabilities were taken over.”
The 18-hole golf course, dating back to 1990 when it started out as a nine-hole course, is set in 87 acres and is 4,981 yards. It includes a number of facilities including a 100-seater terraced restaurant, clubhouse, bar, practice area, putting green and driving range.
In the last year, it has seen a net increase in membership of 25, and there are something like 100 events a year held at the site, said Mr Kelsall.
“Seckford Golf Club continues to trade and members and those with functions booked will not notice any difference. It is very much business as usual, with a full range of facilities and staff covering both the course and the restaurant,” he said.
Mr Kelsall explained the directors asked to meet with him about six weeks ago and after looking at the situation, he had advised that administration was the most suitable course.
The administration provides a structure for the club to continue to trade, while looking to restructure or achieve the sale of the club.
The level of debt is still being assessed by the administrators, but is thought to be in the hundreds of thousands of pounds.
Interested parties can contact Richard Bloomfield of Larking Gowen on 0845 450 2466 or by email at email@example.com