United Kingdom private equity fund ENDLESS invests in golf fashion company GOLFINO
-Wholesale and e-commerce to be expanded
Hamburg, 12th March 2020
A big relief for GOLFINO: The private equity fund Endless takes over golf fashion label GOLFINO. Endless is a private equity fund based in the United Kingdom and owner of the largest European golf retailer, American Golf.
The GOLFINO headquarters will remain in Glinde, from where the e-commerce and wholesale business divisions will be expanded under the new owner, International Leisure Brands (Deutschland) GmbH. The retail stores, however, had to be closed. The brand will be continued and strengthened, and it is intended to continue to offer high quality golf clothing combined with first-class service in the future.
Dr. Bernd Kirsten, chairman of GOLFINO AG: "As founders of GOLFINO 34 years ago, my wife and I are happy, that GOLFINO will continue to serve its many loyal customers. We regret that the retail stores have to be closed and thank our sales staff for their many years of great service."
Insolvency administrator Dr. Schroeder: "The restructuring was quite challenging due to the difficult market conditions in the textile as well as the retail industry. I am all the more satisfied
that in Endless an ideal investor has been found who wants to develop GOLFINO strategically."
GOLFINO is one of the European market leaders in golf clothing but had to file for insolvency in November 2019. At the time of filing for insolvency, the family-owned company employed more than 250 people. GOLFINO provides high-quality outfits in the sports and leisurewear sector. The company was founded and successfully managed for over 34 years by Christel and Dr. Bernd Kirsten. For more information about GOLFINO please visit: www.golfino.com
Press officer of the insolvency administrator:
rw konzept GmbH Kommunikationsberatung
Bonner Strasse 178, 50968 Koeln
Endless LLP is a UK based transformational private equity investor. Endless looks to support buyouts, non-core acquisitions from larger groups, turnarounds and financial restructurings.
About the insolvency administrator:
Dr. Jens-Soeren Schroeder, a lawyer with longstanding restructuring experience, is a partner in the law firm Johlke Niethammer and has been working as an insolvency administrator for over 20 years. He is one of the leading names in the field of insolvency administration and was, among others, insolvency administrator of the UfA cinemas and DIY chain Max Bahr. Further information: www.jnp.de
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