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Druid's Glen Goes Into Examinership

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    #2
    HighLine
    Closed Accounts Posts: 3,378 ✭✭✭HighLine


    Record profits last year and now this. Something smells fishy. I think the resort will be just fine.


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    #3
    MiniGolf
    Registered Users Posts: 757 ✭✭✭MiniGolf


    You had me worried when I saw the headline.... I just rejoined Druids Heath about a month ago..


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    #4
    PARlance
    Registered Users Posts: 21,197 ✭✭✭✭PARlance


    MiniGolf wrote: »
    You had me worried when I saw the headline.... I just rejoined Druids Heath about a month ago..

    Examinership isn't as bad as many people think. It basically means the company is protected from creditors for a period of time, usually 3 months iirc, and it's usually successful.

    Strange that they invested heavily in the course with this debt hanging over the club.


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    #5
    fred funk }{
    Registered Users Posts: 6,827 ✭✭✭fred funk }{


    This only effects The Glen, not The Heath or the hotel. Different entities. .


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    #6
    PARlance
    Registered Users Posts: 21,197 ✭✭✭✭PARlance


    HighLine wrote: »
    Record profits last year and now this. Something smells fishy. I think the resort will be just fine.

    Those record profits were for the Hotel and were fairly modest at ~400k profit, up from 80k profit the year before. The whole resort relies on the continued support from its parent company (whose main business is construction in Nigeria) PW ltd. Can't see them not continuing to support the resort as a whole.


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    #7
    Milkers
    Registered Users Posts: 1,071 ✭✭✭Milkers


    PARlance wrote: »
    Examinership isn't as bad as many people think. It basically means the company is protected from creditors for a period of time, usually 3 months iirc, and it's usually successful.

    Strange that they invested heavily in the course with this debt hanging over the club.

    GdRxcZc.jpg

    :pac:


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    #8
    FixdePitchmark
    Registered Users Posts: 20,898 ✭✭✭✭FixdePitchmark


    The best Parkland course I have played in Ireland.
    In fact, love the hotel there too - one of my favorite hotels too.


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    #9
    mafc
    Registered Users Posts: 787 ✭✭✭mafc


    FixdePitchmark wrote: »
    The best Parkland course I have played in Ireland.
    In fact, love the hotel there too - one of my favorite hotels too.

    Got to agree with you there, played it last month and love the place. Hope it all works out.


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    #10
    listermint
    Registered Users Posts: 33,932 ✭✭✭✭listermint


    Vulture fund in loan debt purchase trying to make fast buck shocker...

    Looks like the vulture fund was expecting this to go another way. I don't see them making the money they thought they would.


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    #11
    HighLine
    Closed Accounts Posts: 3,378 ✭✭✭HighLine


    Druids Glen golf course exits examinership


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    #12
    PARlance
    Registered Users Posts: 21,197 ✭✭✭✭PARlance


    HighLine wrote: »
    Druids Glen golf course exits examinership
    Milkers wrote: »
    GdRxcZc.jpg

    :pac:

    The apology is in the post I take it :)

    *The ball is in your court now for the next time they get into trouble...sits tight*


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