Golf Course Files for Bankruptcy

A popular golf course in the Lutz, Florida area has reportedly filed for Chapter 11 bankruptcy organization. Bankruptcy records show that the Tony Cheval Golf & Country Club has not been keeping up with the payments to the seller to satisfy the outstanding mortgage. According to reports, after buying the course in 2008 the club saw membership drop during the economic downturn in 2009 but has now seen membership stabilize. It is reported that the new owners believe they can successfully reorganize if they can restructure the golf course loan.

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