HARRY HILL

Does anyone have any information/news on Aymerich Golf Management the company who run the golf course on Esuri are they in financial difficulties ?

MikeJ

I believe that the golf club is now run by "Costa Esuri Golf"
I had heard that Aymerich was bust but beware this was just word of mouth so may be totally wrong.

MikeCol

To the best of my knowledge the golf course, owned by Fadesa, is still run by Aymerich. Regards Mike.

MikeJ

I said I could be totally wrong.

Steve and Pat

Aymerich are thought to be having some 'financial difficulties', but have not yet 'gone under'.

EsuriJohn

Like all other responses this is just word of mouth but Aymerich have been in financial trouble for some time. They had a large cash injection around Christmas by "Dutch" investors but that does not seem to have eased their troubles. The East course is now useless. In spring they had not budgeted watering cost and they could not afford to water the west course properly (30.000 euro needed). The biggest clue comes from members who note that the annual subs are now paid to an account which is not Aymerich but no info has been circulated on this.

I do not pretend to understand the Spanish bankruptcy procedure but a Spanish lawyer friend tells me that they have gone bust and that the company now operating the courses is based in Leon suspiciously close to Fadesa's home of A'Coruna. They said this information was gleaned from Internet searches. This is how you would find the info in UK with companies house and London Gazette searches, They must have equivalents in Spain so they tech savvy might search and give us a link to a google translation.

The courses are still owned by Fadesa and must be on their books at a very high valuation since they refused an offer for the east course when it was just about saveable . It has been estimated that the cost of renovation would be around 200.000 euro per hole about 3.500.000 for the course.

Of course CE is not alone in this there have been persistent rumours about courses in the East Algarve also having difficulties and courses on the Med coast of Spain too.

jackytoo

raising the VAT rate for golf fees to 21% won't help

EsuriJohn

In Portugal it has been savage since they only paid a reduced rate of 6 and it is now 23.

sikohee

The information is very interesting.