Ben Hogan Golf files for bankruptcy
The writing may have been on the wall several weeks ago when three-quarters of their staff were laid off.
Now the Fort Worth (Texas)-based US equipment company Ben Hogan Golf has filed for bankruptcy in a US court.
Ben Hogan Golf
Any hopes the company may have been able to trade its way out of trouble were dashed when the long-running company filed a bankruptcy petition listing assets and liabilities between $1m and $10m.
This occurred just weeks after 30 of their workers were made redundant, leaving less than 10 employees at its Fort Worth facility.
The maker of premium golf clubs, backed by Corbett Capital in Fort Worth, brought the revered Hogan name back to the marketplace two years ago under the leadership of Terry Koehler.
Then in August last year Koehler was replaced as president and CEO by Scott White, a former executive at both Callaway Golf and TaylorMade.
But after making a decision in 2015 to introduce new Hogan clubs, the company moved away from the two-nine numbers plus wedges and instead decided to number their irons by loft (between 20 and 63 degrees).
Late last year the company also decided it would change that tack again and add the traditional two-nine numbers on the hosels of the clubs.
Among its top creditors are Perry Ellis International, which licensed the Hogan name to the company, owed $267,500, and Conti Edgecliff-Sias LLC, its landlord in south Fort Worth, owed $77,256.74.