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990B Luva
4th June 2004, 06:38 PM
anyone hear/read the rumors that HOG in QLD have gone bankrupt? http://www.iseekgolf.com/forum/viewtopic.php?t=7136

nick
4th June 2004, 06:43 PM
I actually work for House of Golf and have heard rumours that House of Golf is closing down, etc and it is not true, we have had no word whatsoever that HOG has gone bankrupt (in QLD and NSW), as far as we know, everything is fine.

Nick

terryand
4th June 2004, 07:01 PM
From what I heard the franchiser has gone.

The name not the stores cause they'd be seperate owners.

Terry.

nick
4th June 2004, 07:12 PM
No, no, no.

What happened was that it was formely Big John's House of Golf, but Big John is gone so it is now just The House of Golf.

Nick

ben
4th June 2004, 07:16 PM
HOG QLD is under administration. this happened about 2 weeks ago I believe. All the francise stores are owned by the same person in QLD and the company that owns them is under administration.

I know of at least one supplier who is owed about 100k

Jarro
5th June 2004, 09:06 AM
does this mean we can expect some bargains to pop up in these stores soon :?

nick
5th June 2004, 05:36 PM
There's always a bargain at House of Golf, "We'll do you a deal"LOL

Nick

Golfgirl
6th June 2004, 09:46 AM
well, there you go - I heard this story from a supplier two/three weeks back... and didn't think there was anything in it. Geez, sometimes these guys actually do know what they are talking about.... who would have guessed... :? :wink:

nick
6th June 2004, 03:50 PM
I discovered the truth today guys.

Vardon (who HOG buys all its clubs off, they don't go through the manufactorer) has gone bankrupt, they owe money to many brands, a lot to Taylormade, but HOG is fine.

Nick

Fishman Dan
8th June 2004, 12:57 PM
I actually work for House of Golf and have heard rumours that House of Golf is closing down, etc and it is not true, we have had no word whatsoever that HOG has gone bankrupt (in QLD and NSW), as far as we know, everything is fine.

Nick

Nick, which store??

Fishman Dan
8th June 2004, 01:05 PM
Update from a HoG owner;

One of the directors of HoG is apparently is some trouble, but this doesn't directly affect HoG stores, and he doesn't own all of the QLD stores outright. What it means though it that stores have to re-finance, find new backing/guarrantor etc.

The owner of the Parra HoG is selling the franchise for a few reasons, largely because of a better offer in a warmer climate and being 'over' Sydney - know the feeling. But after chatting about the state of the nation, you might tend to wonder what else is at play.

His nearest competitors have large parking areas (Drummond @ Northmead, Golf Mart @ Lidcombe) and massive stores, so while he's still making money it's time to move on. I expect that the franchise will remain in Parramatta though with the new owners.

So don't expect massive liquidation sales or panic fire sales in the near future, but i don't think they're out of the woods yet. I get the feeling sometimes that this particular store owner is a member of these online forums, just have to wonder who it is.... :-k 8-[

nick
8th June 2004, 04:56 PM
I actually work for House of Golf and have heard rumours that House of Golf is closing down, etc and it is not true, we have had no word whatsoever that HOG has gone bankrupt (in QLD and NSW), as far as we know, everything is fine.

Nick

Nick, which store??

Narrabeen House of Golf.

Nick

jaster
8th June 2004, 05:03 PM
I actually work for House of Golf and have heard rumours that House of Golf is closing down, etc and it is not true, we have had no word whatsoever that HOG has gone bankrupt (in QLD and NSW), as far as we know, everything is fine.

Nick

Nick, which store??

Narrabeen House of Golf.

Nick

Hey Nick,

How come HOGMART isn't working at the moment? :(

http://www.houseofgolf.com.au/

nick
8th June 2004, 05:05 PM
It's really outdated, I think their updating it:)

Nick

jaster
8th June 2004, 05:22 PM
It's really outdated, I think their updating it:)

Nick

What if I want to find out if a putter is available still?

ben
8th June 2004, 06:12 PM
I heard yesterday that this will effect every store and that a HEAP of cash is owned (a couple of million). I now don't know what to believe as the stories all seem mixed up. Most of what I hear is from industry people who are owed money :)

Jarro
8th June 2004, 06:23 PM
looks like we'll just have to wait and see how this all pans out :? :roll:

sounds like a bit of a mess to me :(

Fishman Dan
8th June 2004, 10:38 PM
To expand a little further - and this is completely heresay, but one of the ex-owners is 'part of the problem'.

The guy that sold me my clubs (and subsequently presented me with the set I won) sold his store some time ago and still has his own store elsewhere. Something went stinky somewhere along the lines, and it sounds like there is/was a court case, and as a result he is owed money.

My guess? He was promised minimal expansion/territory rights and that was breached, and he's taken them to the cleaners.

That's my read - and no one elses in case this becomes some sort of crude 'Chinese Whispers'.

nick
9th June 2004, 05:23 PM
It's really outdated, I think their updating it:)

Nick

What if I want to find out if a putter is available still?

I'd say call up the phone number of the shop (if you know which one) or contact the guy who runs HOGMART through email.

Nick

nick
9th June 2004, 05:24 PM
To expand a little further - and this is completely heresay, but one of the ex-owners is 'part of the problem'.

The guy that sold me my clubs (and subsequently presented me with the set I won) sold his store some time ago and still has his own store elsewhere. Something went stinky somewhere along the lines, and it sounds like there is/was a court case, and as a result he is owed money.

My guess? He was promised minimal expansion/territory rights and that was breached, and he's taken them to the cleaners.

That's my read - and no one elses in case this becomes some sort of crude 'Chinese Whispers'.
Which HOG was it?

nick
16th June 2004, 06:24 PM
What I found out:

HOG NSW is considoring joining with HOG Queensland (who are doing great), HOG NSW is currently joined with HOG QLD.

It was actually the company that HOG buys all its stock off that was the problem, that company being Vardon, they are bankrupt and owe a lot of money, including to HOG NSW.

I'll keep you posted with anything else I hear.

Nick

ben
16th June 2004, 08:55 PM
http://www.search.asic.gov.au/cgi-bin/gns030c?acn=006_520_770&juris=9&hdtext=ACN&srchsrc=1

gazgolf1
20th June 2004, 02:50 PM
Dropped into HOG in Edward st Brisbane last week and the shop has been cut in half. :shock:
The other half is a 7 eleven.
What used to be a pretty spacious and cool store is now a "don't bother".
Put it this way I hope they don't own a cat. :wink:

Fishman Dan
20th June 2004, 04:05 PM
http://www.search.asic.gov.au/cgi-bin/gns030c?acn=006_520_770&juris=9&hdtext=ACN&srchsrc=1

Ben,

This tells me that Vardon appointed an administrator, and a week later that administrator was removed/resigned from the job?

Either it's not as bad as we're led to believe, or it's much much worse ;) What's your read?

AndyP
20th June 2004, 04:40 PM
The other half is a 7 eleven.

Good! We need another 711 in the Brisbane City. :roll:

Didn't Golf World close down in the city within the last year as well?

gazgolf1
20th June 2004, 05:27 PM
The other half is a 7 eleven.

Good! We need another 711 in the Brisbane City. :roll:

Didn't Golf World close down in the city within the last year as well?

Yep. :roll:

jaster
20th June 2004, 05:34 PM
So no-one who works in the City buys golf stuff :( That's a shame :cry: Good old Golf Works still going strong though I see 8)

nick
20th June 2004, 06:22 PM
So no-one who works in the City buys golf stuff :( That's a shame :cry: Good old Golf Works still going strong though I see 8)

Its actually a combination of things that are killing retail stores (the internet included), but it looks like HOG NSW is gonna be OK as it is probably gonna be joining with HOG Victoria.

Nick

damoocow
20th June 2004, 09:01 PM
I think you'll find that HOG in Brisbane City , although smaller in size initially will expand upwards - at least that was the info i got when I was last in Bris - apparently they are adding or expanding to include upstairs - but then again I am found to be wrong very often !
damoocow

AndyP
21st June 2004, 07:33 AM
I think you'll find that HOG in Brisbane City , although smaller in size initially will expand upwards
They were already using upstairs. But maybe they are going to make better use of it now. I think they just had clearance stuff up there before.

Fishman Dan
21st June 2004, 08:15 AM
Its actually a combination of things that are killing retail stores (the internet included), but it looks like HOG NSW is gonna be OK as it is probably gonna be joining with HOG Victoria.

Nick, please don't take what i am about to post the wrong way.

Each time you update this thread, your story is much different from the last time you post. I'm aware you are a (loyal) employee of a franchise, and for that matter I am sure you are only being told a 'portion' of the story - as is the case with any financial vulnerable business (been there, done that).

My advice? Take anything you hear with a pinch of salt, and just keep turning up and getting your own job done. You can't really change what is/is not happening, so keep your head down and let it takes its course.

nick
21st June 2004, 05:48 PM
I'm just posting what is getting told to me, and things do change.

Nick