Feb. 28 (Bloomberg) -- Cliffs Club & Hospitality Group Inc., which owns several luxury golf communities in South Carolina and North Carolina, filed for bankruptcy protection.
The Travelers Rest, South Carolina-based company listed assets of less than $50,000 and debt from $100 million to $500 million in Chapter 11 documents filed today in U.S. Bankruptcy Court in Spartanburg, South Carolina.
The eight communities are located between Asheville, North Carolina, and Greenville, South Carolina, according to the company website.
Cliffs Club’s parent, CCHG Holdings, and nine affiliates also sought protection. The Cliffs Communities Inc., which owns CCHG Holdings, didn’t seek protection. Developer Jim Anthony is the majority shareholder of Cliffs Communities.
The case is: In re Cliffs Club & Hospitality Group Inc., 12-01220, U.S. Bankruptcy Court, District of South Carolina (Spartanburg).
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