Willows Golf Resort gets financial lift
WILLOWS Golf Resort is set for new ownership with an “exciting” outcome for the club, its members and the community, according to the resort’s golf professional Josh Tindale.
Mr Tindale was commenting after reports the one- time c h a m p i o n s h i p - s t a n d a r d course is again in financial strife with company records showing its owner has been placed into administration.
John Vardy and Jason Porter of Sydney- based insolvency firm SV Partners were appointed administrators to SPC & Co Pty Ltd on Tuesday.
SPC & Co, led by Sydney man Emilios Demetriou, is listed as the owner of the 66ha course at Nineteenth Avenue, Kirwan.
Mr Tindale rejected suggestions the club’s owners were in financial strife but he declined to comment on suggestions security guards visited the club on Wednesday and changed locks to the premises.
“All I can say is there is a new owner,” Mr Tindale said.
“Everything is positive and exciting for the golf club, for members and the community.
“Everything is trading as always. We are welcoming all our guests. It’s a championship course ready to go.”
Mr Tindale said the new owners would be in contact.
According to sources, members are being told a developer is buying the course.
Mr Demetriou acquired an interest in the golf course before it fell into administration and liquidation in 2010 when it was part- owned by former Townsville businessman and A- League NQ Fury franchise founder Don Matheson.
It is understood Mr Demetriou and another investor acquired the club in 2010 when they paid out the mortgage to the club’s secured creditor.
Mr Demetriou or a spokesman for the administrators could not be contacted for comment.