Thirty jobs have been saved at Toft Country House Hotel and Golf Course in Bourne,
Lincolnshire following a pre-pack administration sale, led by business recovery specialists,
Begbies Traynor, to Giri Golf Limited.
As well as retaining the entire workforce, Giri Golf Limited has also acquired all of the assets in the sale, which includes the leasehold of the 20-bedroom hotel and challenging par 71 golf course, with a club membership in excess of 300.
The sale was completed with the help of a team of advisers, including Deborah Nigh and
Neena Jakhu, from the restructuring and insolvency team at law firm Howes Percival, who
advised Begbies Traynor on the deal.
Marco Piacquadio from Begbies Traynor, who led the rescue process as Joint Administrator
with his colleague Julie Palmer, said: “We are delighted to have achieved this sale. Not only has it saved the jobs of the entire workforce, but it has also safeguarded the golf club members’ contracts ensuring there is no disruption to their membership.
“From the very first discussions, Giri Golf appeared to be an excellent fit for the business as
they already had experience in running similar leisure facilities across the UK and we have
every confidence they will be able to take it forward successfully. Key negotiations were held with the secured creditor and landlords and consideration was also given to key suppliers and club members’ requirements as part of the negotiation and sale process. Begbies Traynor strive to promote the rescue culture and protect employees’ jobs wherever possible and are so pleased to see such an outcome in this instance.”