Decreased interest in golf leads to bankruptcy

Citing a decrease in the popularity of golf during the recession, Edwin Watts Golf Shops, LLC filed for bankruptcy relief under Chapter 11 this week.  Some stores are expected to continue to operate but the exact number is not known.  The exact total owed by the company is not yet known but court documents reflect liabilities between $100 and $500 million.  An auction is expected to be held by December 6 with an initial stalking horse bid already in place.

For more details about this bankruptcy read, “Edwin Watts Golf Shops files for bankruptcy, seeks sale.”