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 Earlier this week, GolfDigest.com reported Nickent had appeared to be out of business after terminating its employees late last week. Thursday, company president John Hoeflich confirmed that report. “We tried our best to re-energize and re-organize the company over the last seven months,” said Hoeflich, referring to the time period since May when Nickent was put into receivership. “Unfortunately, we’ve been unsuccessful.” Nickent did indeed cease operations last Friday and is in the process of liquidating its assets. The company has gained exposure in recent years largely because of its hybrids, which were popular among players on the PGA, Nationwide and LPGA tours. In the middle of the decade, Hoeflich said sales were growing, but as the overall economy worsened, so did Nickent’s fortunes. What was once a corps of 60 employees dwindled to 22 in less than two years. It’s possible some of the company’s patents on equipment could still be manufactured into product, Hoeflich said, but with the current state of the economy — specifically the difficult times for the golf club industry — such circumstances remain uncertain at best. “So far, we haven’t attracted any new capital,” Hoeflich said. With almost 40 years of experience in equipment, Hoeflich is unsure if he will remain involved in the industry. He has been president of Laguna Niguel’s Liquidmetal Golf and also has worked for TaylorMade-adidas and Acushnet. “I still think I have value to add somewhere in the business,” said Hoeflich. But he is skeptical about future prospects for golf clubs. “When the woods are on fire, people don’t usually notice a little sapling burning to the ground,” Hoeflich said, analogizing Nickent as the sapling. “And the golf industry’s been on fire for the last two years.” |
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RSS SubscribeReaders Feedback:
In a way I am glad to see them go. I purchased a set of clubs and they kept breaking, you would call them up and get nothing but excuses. They had no customer service at all. I ended up having to go to Walnut itself to get any response. Hope they have a great holiday season. heh heh
| Comment at 12/2/2009 |
