Europe’s largest golf retailer has been rescued from collapse in a deal which safeguards 900 jobs.
American Golf was put into administration on Friday and then immediately sold to buyout investor Endless.
As part of the deal, teed up by Deloitte, 112 of the chain’s 132 stores in the UK and Ireland will remain open.
At the time of appointment American Golf employed over 1,000 people. More than 900 jobs will be protected by the acquisition.
Tom Jack, a partner at Endless, said: “American Golf holds a unique position as the UK’s golf market leader and has been providing specialist expertise to its loyal customer base for over 45 years.
“We believe this is a business with fantastic potential and we’re delighted to be able to protect the employment of over 900 employees as a result of this acquisition.”
The business will honour valid gift cards and outstanding customer orders.
“I am delighted that the sale of the business which we have completed today has safeguarded over 900 jobs,” said joint administrator Dan Smith. “We appreciate the support of management and all employees in achieving this aim and wish them well for the future”
The acquisition adds to Endless’s portfolio of rescued businesses including jeweller Theo Fennell and shoe retailer Jones Bootmaker, which was later sold to Pavers.