American Golf has reportedly begun reaching out to potential buyers as it searches for new investment to sure up its finances.
According to Sky News the UK’s largest specialist golfing retailer, which trades from over 130 UK stores across the UK and Ireland, has flown in Deloitte to handle a sales process.
The extreme weather seen this year, including both extended hot and cold seasons, is understood to have hit the sportswear retailer’s finances.
A number of turnaround investors have been approached by Deloitte on behalf of American Golf, and it’s thought to have requested offers within a short time frame.
Though both JD Sports and Sports Direct have been flagged as potential bidders, the limited time given to make an offers suggests it may be in a dire financial position.
Its owner Sun European Partners, which bought the company in 2012, took the business through a restructure in 2015 in order to restore the confidence of its suppliers and insurers.