Only a matter of months after it closed, a historic golf club on the southside of Glasgow could re-open.
bunkered.co.uk has learned that the sale of Eastwood Golf Club assets was completed earlier this week, with the new owner believed to be open to the possibility of bringing the club back to life.
A source told us: “After entering into the bankruptcy process in May this year, the club and its assets were listed for sale, with offers invited on the basis of a going concern.
“One of those offers was accepted with the sale completed earlier this week and the new owner has not ruled out the possibility of re-opening the course and reforming the club.”
Eastwood, located in Newton Mearns, closed earlier this year after a buyout to save the 126-year-old club fell through at the last minute.
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Like many of its contemporaries, it had seen its membership tumble and, consequently, ran out of money to stay afloat.
Attempts to drum up new business, including the introduction of gender-neutral tees and a club open day, failed to stem the losses and, on May 14 this year, it formally fell into the hands of Glasgow-based financial recovery, restructuring and debt advisory firm, MLM Solutions.
A spokesperson for MLM Solutions wouldn’t reveal the identity of the new owner, nor the amount that they had paid for the assets. However, they did confirm that the sale had been completed this week.
The possibility of Eastwood re-opening is a welcome boost to the Scottish golf industry which has been subject to a spate of closures in recent months.
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Indeed, bunkered.co.uk has learned of a club in the Highlands being visited by sheriff’s officers last week after running into financial difficulty.
Polmont Golf Club was saved on Wednesday evening after an eleventh hour bid to stop it from going under was agreed an extraordinary general meeting.