A “potentially controversial deal” has seen Mentmore Golf & Country Club sold out of administration, it was announced today.
The troubled club has been purchased by a newly formed company, Mentmore Golf Corporate Limited, backed by previous owner Simon Halabi.
And it seems club members remain uncertain about the future, as they wait for the company to reveal its plans.
Club captains Martin Cowling and Anne Bridges had previously led a members’ buy-out bid, as reported here. Today, they said they were “keen to ensure the interests of past members are recognised under the new regime”.
Martin Cowling said: “Many members have paid out considerable sums in five year membership deals – some as recently as last September, and they could be left high and dry by this potentially controversial deal.
“Whilst we are naturally pleased that the ownership of the club has been resolved, we are keen to hear the owner’s plans, as it is essentially the same people running the club as under the previous regime.”
The club ceased trading due to financial difficulties on Sunday, June 7.
Grant Thornton were subsequently appointed to seek a quick buyer. A bid on behalf of Mentmore members was submitted, but the club was sold shortly after being placed into administration on Friday, July 3.
Details of the deal have yet to be released, regarding the arrangements for creditors, debenture holders and members generally.
Ladies’ captain Anne Bridges said she was equally concerned.
She said: “We are very keen to engage with the owner as soon as possible to understand his plans for the club, both from a golf and also a health and fitness perspective, where the club has enjoyed strong membership over recent years.
“Unfortunately many members have already joined alternative golf clubs and gyms and with the summer nights drawing in, time is running out to retain what loyalty remains.”
Members can apparently expect to hear from the administrator within the next week.