Lloyds Development Capital (LDC) is understood to have extended the timeframe for the sale of American Golf as interest from an unknown American trade buyer emerges.
Lloyds hired Rothschild to run the sale process and it remains in talks with up to four bidders, despite an original deadline of August 30 was set for final bids.
After the extension a deal is still being trashed out with interested parties including the US trade buyer and Bridgepoint Development Capital. It is expected to fetch up to £80m.
American Golf, which has 83 shops, is targeting underlying profits of about £8m this financial year to January. It increased like-for-like sales by 13.9% in its first quarter to May 1.
LDC bought American Golf in 2004 for £40m.