The Ben Hogan Golf Equipment Co. filed for bankruptcy protection in U.S. Bankruptcy Court in Fort Worth according to the Fort Worth Star-Telegram.
Ben Hogan Golf Equipment was relaunched two years ago by Terry Koehler, a former director of marketing of Ben Hogan Co. Koehler was subsequently replaced as president and CEO by Scott White this past summer.
The news of the Chapter 11 filing appeared inevitable in early January when the Fort Worth-based equipment maker laid off most of its employees, but White told Golf Digest that,
“reports of our death are greatly exaggerated.”
White also added in the Golf Digest article that,
“our investors remain committed … but as with any investment group, they expect to see a positive return on investment at some point. These initiatives will help us achieve profitability more quickly.”
The filing was listed on Saturday both assets and liabilities between $1 million and $10 million.
Perry Ellis International, which owns the Ben Hogan name, is among the largest creditors at $267,500.