Successful Administration of Wrangaton Golf Club
The historic Wrangaton Golf Club was founded in 1895 on the southern slopes of Dartmoor with a nine-hole course showcasing stunning views of the rich Devonshire countryside with a backdrop of coastline.
The Problem
The golf club – or more specifically Wrangaton (South Devon) Golf Club Limited – began to experience financial difficulties due to declining membership subscriptions. The club relied on the income provided by its members and contacted Real Business Rescue upon realising the situation was becoming particularly grave.
The Solution
Ian Walker, partner at Real Business Rescue (part of the Begbies Traynor Group), was appointed liquidator of Wrangaton (South Devon) Golf Club Limited on Thursday 29th January 2015. Mr Walker said: “Following our appointment, formal marketing will begin with a view to finding a new owner of the club. We’re pleased to say that several interested parties have already come forward and I am confident that a buyer as a going concern will be found.
Within a few months, the future of this historic golf club had been secured following its sale to nearby Bovey Tracey Golf Club.
The Result
New owners the Barter family, of Bovey Tracey Golf Club, said: “We are delighted and honoured to be taking on ownership of Wrangaton Golf Club and will be working hard, together with our staff to ensure its future success. Being located in such a beautiful part of the world, we know there is real potential for the club to increase its membership and attract golfers from across the country.
“ We are delighted to announce the sale of Wrangaton Golf Club to Jane and Richard Barter. As experienced and successful golf club managers, we have no doubt that they will ensure Wrangaton Golf Club now goes from strength to strength. ”Ian Walker, Partner
In the Press
Free Guide for Limited Company Directors
Business Rescue Advice for Directors
- How to manage company cash flow problems
- Advice on dealing with HMRC
- Understanding rescue and closure options
- And much more...
Business Rescue Guide for Accountants
Dealing with your Insolvent Clients
- Helping you advise insolvent clients
- Spotting signs of client distress
- Exploring business rescue options
- And much more...
