Nevada Bob's UK swings back into life with pre-pack deal
Tuesday 31 March 2009
Nevada Bob's UK has been bought out of pre-pack administration by its US parent, in a deal that will save high street and head office jobs.
The franchisor of 24 golf equipment retail stores in the UK appointed Tenon as administrators after succumbing to tough trading conditions on the high street. Its franchisees also run stores in Portugal, Holland, Italy and Iceland, giving it a total of 37 outlets in Europe.
Adrian Woolford, the managing director of the new company Nevada Bob's Europe, said: "This administration has resulted in the preservation of our entire team, and we believe it has secured the future of Nevada Bob's brand in the UK and Europe."
While the deal preserves most of its stores, some of its franchisees will not go forward, leaving it with about 30 stores in Europe. The deal saves 10 head office jobs. Mr Woolford said: "It is a tough environment out there, but we believe in the brand." He added: "We are thankful for the continued relationship we have with our brand owner, franchise and industry partner, employees, and our bankers, and we look forward to what looks to be a promising future together." Its US parent is RCD Investments No 4.
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