SAPCOR1
Journeyman Pro
So are you going to answer the questions?
Direct golf under new ownership
- Thread starter jamielaing
- Start date
So are you going to answer the questions?
Jacko_G
Blackballed
Start your own thread in OOB and I'll happily debate all day, this will detract from this thread.
This took a quick u-turn
SAPCOR1
Journeyman Pro
I will leave that to the self righteous who are constantly offended and outraged and in a perpetual search for a flag or banner to huddle with similar
SAPCOR1
Journeyman Pro
I agree we should try and support club pros but they have to help themselves, with access to gear to offer members (even if not in stock and a chance to price match). The day of a shop full of clothing with the club badge on doesn't do it for me. However, these big stores have a place. How DG develop under Sports Direct ownership remains to be seen
Very harsh news - unsecured creditors could lose £8m. Not sure about the spelling (loose and lose) - http://www.golfpunkhq.com/news/article/direct-golf-administration
dankiz
Assistant Pro
Has anybody ordered anything online from the new DG? They have a flash online 50% sale on certain brands! Saw a Golden Goose Mk2 putter down to £34.99 and it feels great on the practice mat. Just really dubious about ordering online again after last time
Sats
Challenge Tour Pro
I like to support my local pro - but for the right price, I won't blindly follow.
Will he price match. Do you give them an opportunity to do so?
The irregularities in the accounts is disgraceful and borders on prosecution, how can you declare a Net profit of £107k and then it be restated at a £4.7m loss and then another restated adjustment down £1.4m, no wonder the directors were removed!
The title may say it could be a £8m loss to unsecured creditors but the claims are closer to £14m, this is total naivety by suppliers who must have seen signs of late payments and a debt constantly increasing, to keep supplying without any personal guarantees being put in place when late payments and warning signs were visible is suicide, if they wouldn't accept personal guarantees then stop supplying!
No wonder there are flash sales going on, its a great way to get people back through the door and with buying the business assets (buildings & stock) for only £300k, the current stock was probably only purchased at around .20p in the pound, if that!
I can still see some stores closing though, it's unfortunate but there will have to be some immediate shaping and cost cutting and the easiest and immediate effect to do that is buildings and staff!
Lots more left in this pie yet..
Could it be that its just been bought for the stock and in the places there is already a SD, move the stock and a couple of staff member s over and have the DG in SD.Like Dundee for instance, DG is a wedge shot away from SP.
Just keep the stores that don't have a nearby SD??
Just keep the stores that don't have a nearby SD??
No, it has to be a totally separate entity IMO, after all, they are 2 individual limited companies, having them sharing premises even if they became within a group structure is not good business practice and has potentially loads of legal complications.
Possibly right, but think of the saving on overheads?
David B
Newbie
Range and stock is shockingly limited, ansd as you say we can now buy prestige golf balls - DUNLOP - i mean really???
A real shame
A real shame
BoadieBroadus
Q-School Graduate
could i just point out the irony of Golfpunk running an article about stiffing unsecured creditors....
Actually that passed my by initially but good point well made sir
