Bowlmor AMF Chief Executive Tom Shannon expressed optimism about his newly merged company in the May issue of International Bowling Industry magazine.
AMF Bowling Worldwide, Inc., and Bowlmor completed their merger in July, allowing Virginia-based AMF to emerge from Chapter 11 bankruptcy. It was the second time that AMF had declared bankruptcy in 10 years.
In the magazine, Shannon reported that revenue was down at his company, but “the profit is up measurably, in the double digits.”
Shannon had provided a glimpse into Bowlmor AMF’s turnaround in October when he told examiner.com that the company had “turned a big historic loss into a profit” in its latest results.
With the merger, Bowlmor AMF became the largest operator of bowling centers in the world with 6,000 employees and 260 bowling houses. Revenue, Shannon said, totaled about $425 million.
Shannon added that Bowlmor – which existed as a chain of six upscale bowling houses known for its Vegas-style sports look and laneside food and drink service – was interested in AMF as soon as the bankruptcy was filed.
“I thought Bowlmor did the recreational and party thing really well and AMF did the league thing very well,” Shannon said. “Put it together and there was plenty of upside.”
Shannon, who was Bowlmor’s chief executive, is now the CEO, chairman and president of the combined company.
Shannon said in International Bowling Industry magazine that Bowlmor AMF has been severely challenged by the horrific weather conditions that have existed across the country – from the blizzard conditions back East to the withering drought in California.
“It’s going to be a tough year,” Shannon told the magazine. “It’s a tough year for everyone in the industry. Yet we’re doing fine.”