www.bloomberg.com
Nicklaus Companies, once Jack Nicklaus’ golf course business, has filed for Chapter 11 bankruptcy following a $50 million defamation lawsuit judgment against them in favor of Nicklaus. The company claims assets between $10 million and $50 million, but reports liabilities far outweighing those assets, estimated to be between $500 million and $1 billion. The bankruptcy filing in Delaware seeks to reorganize the company in the face of this significant financial burden.
