Plantation Alliance LLC, the owner of the North Augusta, Ga., property, filed for Chapter 11 bankruptcy January 6, but the case was dismissed February 5. The owner can now either sell the golf course and facilities or force the lender, Bank of Camden in Knoxville, Tenn., to foreclose. The property’s golf course, town center and restaurant closed February 7.
Mount Vintage Plantation & Golf Club’s recent money woes could force the current ownership group to sell or face foreclosure, the Augusta (Ga.) Chronicle reported.
The North Augusta, Ga., property has played host to numerous events, including the LPGA Tour’s Asahi Ryokuken International, the Chronicle reported.
Plantation Alliance LLC, headed by Mike Hooker, filed for Chapter 11 bankruptcy January 6, according to court documents. The case was dismissed February 5, and attorney Scott Klosinski said it was apparent it would not work, the Chronicle reported.
“It was simple economics,” said Klosinski, an Augusta attorney who represents the ownership group. “They ran out of money and had been operating at a loss for some time.”
Plantation Alliance can now either sell the golf course and facilities or force the lender, Bank of Camden in Knoxville, Tenn., to foreclose, Klosinski told the Chronicle.
According to documents, claims in the bankruptcy filing included $197,813 to the Edgefield County Tax Commissioner and $111,003 to John Deere Financial, the Chronicle reported.
Hooker closed the Mount Vintage golf course, town center and restaurant February 7. The owner has not returned phone messages seeking comment, but he released a statement to WRDW-Ch. 12.
“Plantation Alliance will no longer absorb the monthly losses incurred to operate the 27-hole championship golf course and community fitness center. These amenities require developer and additional property owner support to operate and remain open,” Hooker’s statement said.
Hooker, who has been a Mount Vintage resident since 2003, bought the golf club August 1, 2011, from Mount Vintage Development Co. LLC. The club nearly closed in 2010 before Hooker stepped in, the Chronicle reported.
The original 18-hole course designed by Tom Jackson opened in 2000. In 2008, a third nine, also designed by Jackson, opened for play, the Chronicle reported.