Bowlmor AMF’s turnaround plans are rolling along.
Tom Shannon, the chief executive, chairman and president of recently merged Bowlmor AMF, expressed delight Wednesday at the latest financial results from the bowling company.
In an email, Shannon said that Bowlmor AMF “turned a big historic loss into a profit,” and that he’s “gotten an enormous amount of positive feedback from the managers about the direction we are taking. AMF is more stable and on a better track than it has been in decades.”
Shannon is the former chief executive of Bowlmor now running the largest operator of bowling centers in the world with 7,500 employees, 272 bowling centers and a combined annual revenue of about $450 million.
The merger between AMF Bowling Worldwide, Inc., and Bowlmor three months ago allowed AMF to emerge from Chapter 11 bankruptcy protection by combining with Bowlmor, a New York-based operator of six high-end bowling centers.
Shortly after the merger, Shannon said that Bowlmor was the “only bidder willing to pay” to help AMF out of bankruptcy, AMF’s second bankruptcy within 10 years. Shannon said that he bought AMF not “to get in bankruptcy a third time, but to save it.”
Shannon added in his email that the company was “actively looking for talented managers at the GM level with starting base pay of up to $70,000 depending on market and experience. Lots of exciting things to come.”
Since he took the helm of Bowlmor AMF, Shannon has faced a torrent of criticism over such matters as the elimination of daytime leagues and the increase in the price of beer offered at bowling centers.
AMF has tried to answer the criticism by rolling back the price increase in the beer it serves. It also has expressed willingness to compromise with displaced daytime bowlers.
In an earlier interview, Shannon said AMF’s nighttime leagues are generally unaffected by changes that the centers are enduring, such as later opening hours. “We’ve protected and defended 99% of our nighttime leagues,” he said.