Dr. Michael Smurfit and Gerry Gannon, owners of the K. Club in Straffan are seeking to defer the repayment of bank loans bec ause of heavy losses incurred by the business which includes a hotel and two golf courses.

The operating company has incurred losses of euro8.1m and revenue last year fell to euro13.9m compared with euro20.9m in the previous year. Recently filed accounts reveal that the directors expect losses to continue in the period to June 2011.

The K Club hosted the Ryder Cup in 2006.