Credit crunch delays Boundary Capital plans

THE global credit crunch has hit Boundary Capital’s plans to sell off its golf and fitness club business.

Boundary, the listed investment vehicle controlled by Niall McFadden, is the owner of the Club Company, which operates 11 golf and fitness clubs in Britain. These were purchased last year and Boundary had been planning a sale and leaseback of the clubs.

“Events in credit markets over the summer have meant that these plans have now been delayed. The company continues to trade well and on budget,” Boundary said in a statement to the stock market.