Staff writer
SOUTHERN PINES - The bankrupt Hyland Hills Country Club was sold to a creditor at public auction Wednesday for $4.8 million.
The new owner, Old Saybrook Golf Capital I of Old Saybrook, Conn., has a claim of $1.1million against AZ Golf Club of N.C., the company that owned Hyland Hills County Club.
The sale will close in a month. Hyland Hills covers 140 acres and includes an 18-hole golf course, a 10,000-square-foot clubhouse and a maintenance building. Tom Jackson designed the course. Hyland Hills opened in 1965.
AZ Golf Club declared bankruptcy under Chapter 11 on May 26. In its bankruptcy documents, the company listed $4.5 million in assets and $4.3million in debts.
The bankruptcy was later converted to Chapter 7."
Business Credit Insurance
No comments:
Post a Comment