True Temper Files for Chapter 11 Bankruptcy
"One of the most popular golf shaft companies in the world, True Temper, filed for Chapter 11 bankruptcy on Oct. 8. The company's court filing in Delaware listed assets of $180 million and debt of $319 million.
In a statement released by the company, Scott Hennessy, president and CEO of True Temper, said, “We have successfully reached an agreement to restructure our balance sheet and significantly lower our debt profile. This new financial template clearly allows for the acceleration of our global expansion plans, and for the continued growth of the True Temper business as the overall economy improves."
(Golf.com)
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