The Rumford, R.I., club filed for bankruptcy in January 2017, but The Nature Conservancy of Rhode Island’s recent $2 million purchase of development rights for two-thirds of the property has helped the club repay about $4.5 million in debt. Under the agreement, the land will be preserved from development, and the club will incorporate environmentally […]
The $3.5 billion resort in the Bahamas was supposed to open last December, but has been fraught with delays. The developer is placing blame on the property’s contractor, China Construction America, which is majority-owned by the Chinese government.
The October 28 filing shows that the Edgemont, Pa., club owes more than $2.2 million to PNC Bank, along with unpaid real estate taxes. The club’s leadership is viewing the filing as a reorganization move, and is still operating as it normally would, with the CFO reporting an increase in business in the past month compared to previous years.
The firm purchased the 260-acre daily fee golf club in Midlothian, Va., from the VSGA Foundation for an undisclosed price. Though no specific plan has been generated, the new owner plans to take advantage of non-golf amenities at the club to drive more revenue.
Ironhorse Country Club, West Palm Beach, Fla., is headed for a probable bankruptcy auction, after the club ownership filed for Chapter 11 bankruptcy earlier this month, reports The South Florida Business Journal. “I think the reaction by our members is very positive because we have a stable buyer who is in a position to […]
The owners of Mahoning Valley Country Club, located in Lehighton, Pa., filed Chapter 11 bankruptcy earlier this month, staving off a scheduled sheriff’s sale of the 82-year-old Carbon County golf institution. The new bankruptcy petition was filed in U.S. Bankruptcy Court less than 15 minutes before the club was to be offered to bidders for […]