The global consultancy firm Alvarez and Marsal took the unusual step in 2015 of buying an old golf course in the west of Ireland. Company accounts show the Skellig Bay course in Waterville wasn’t in great order when it was bought. In the 2015 accounts, tangible assets (which relate to physical stuff like land, buildings, the golf course itself, plant and equipment, and fixtures and fittings) were worth a total of €1.3 million.  In the following six years, the new owners embarked on an extraordinary renovation on the newly renamed Hog’s Head Golf Club. Sparing no expense, they upgraded the…

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