The owners of American Golf, Britain’s biggest specialist golf retailer, are preparing to sell the chain almost seven years after rescuing the company.
Sky News has learned that Endless, the investment firm, is in the process of appointing advisers to facilitate an auction.
Sources indicate that Alvarez & Marsal (A&M) is likely to be formally appointed in the upcoming days.
American Golf operates from 95 stores and employs approximately 600 individuals, including part-time staff. The retailer offers products from top golf brands like Garmin and TaylorMade.
In 2018, Endless rescued American Golf after a sale process that also involved the billionaire Mike Ashley from Frasers Group.
The chain has navigated through the challenges of the Covid pandemic, with Endless providing financial support during the periods when non-essential retailers were forced to close for extended durations.
American Golf has slightly reduced in size since the 2018 transaction, with approximately 80% of the acquired stores still operational.
The current valuation of the retailer remains uncertain.
Prior to Endless, American Golf was owned by Sun European Partners, who acquired it from LDC, the private equity arm of Lloyds Banking Group.
Endless chose not to provide a comment on Friday.