BDO called in at ailing golf resort
Bristol Golf Club and nearby hotel in deep trouble
Administrators from BDO Stoy Hayward have been called in to run the
prestigious Bristol Golf Club and the accompanying Bristol Inn after both were
crippled by debts repayments.
Bristol Golf Club, which hosted a USA PGA Pro-Tour event televised on Sky
Sports last year, was established in 1998 and has around 700 members.
The Bristol Inn has 46 rooms and was officially opened by rugby union star
Lawrence Dallaglio in October 2004.
The golf course and hotel are run by separate companies but share four
directors. They employ about 100 full and part-time staff and it is understood
there will be no immediate job losses.
BDO joint administrator Graham Randall said the businesses got into trouble
‘largely through repaying the interest on their borrowings of £6m. We have yet
to establish what the other level of debts are’.
Randall said the extent of borrowings would only become apparent over the
next few weeks.
“We are now trying to sell the business as a whole but, realistically
speaking, the golf club and the hotel will probably be sold off separately.”