Overview
- The company sought Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware on November 21.
- Bankruptcy filings list an estimated $10 million to $50 million in assets against $500 million to $1 billion in liabilities.
- CEO Phil Cotton said the restructuring aims to protect the brand, client relationships, and employees while work continues worldwide.
- The petition includes 11 affiliated entities and names unsecured creditors such as Integrato LLC, Flow Dynamics LLC, and Golf House Spa.
- A Palm Beach County jury found the company defamed Jack Nicklaus over claims about a $750 million LIV Golf offer and his health, and the company says it will appeal.