Aston Wood Golf Club 2000 Limited (03896569): administration
- Status
- Administration ended
- Administration began
- 2011-08-26
- Administrators
- Nigel Price, John Anthony Lowe
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1999-12-14
- Location
- Birmingham
- Industry
- 9262
Why it went into administration
- Cash flow / liquidity pressure
- Property / lease costs
- Competition / price pressure
- Weather / natural events
From the administrators' statement
Aston Wood Golf Club (the Club) was built in 1992 and opened in 1994 It is an 18 hole course covering approximately 210 acres with a two storey Clubhouse, comprising of a professional shop, bar and restaurant, two function rooms and offices There ts also a small driving range, which ts in the process of being expanded and ts due for completion in 2013
Aston Wood Golf Ciub 2000 Limited (“The Company”) purchased the Club in 2000 for £650,000, with an assignment of the 99 year lease The acquisition was largely funded by cashflow and a bank loan of £350,000 provided by The Royal Bank of Scotland ple (“RBS”), which was subsequently converted to an overdraft
The Company offers membership, with subscriptions ranging between £150 for juniors to £890 for full senior membership The course Is also open to non-members upon payment of a “green fee” During the “off season” (November through to March) the Company made full use of the Clubhouse facilities by holding events such as Christmas parties and sporting dinners
Administrators' statement of proposals (2011-10-11) · Companies House register