advertisement
December 20, 2017

Naples Golf and Country Club decides to close and liquidate 18-hole golf course

Photo / Naples Golf and Country Club
Photo / Naples Golf and Country Club
The Naples Golf and Country Club's shareholders have voted to close their 18-hole golf course and liquidate "all of the assets in whole or in part."

After almost a century of being in business, the shareholders of the Naples Golf and Country Club have voted "to close, liquidate and dissolve the corporation."

The Bridgton News reported that the shareholders of the privately held club agreed with the recommendation of its board of trustees to close the golf course. The newspaper reported that the trustees' recommendation letter cited a reduction in golfing revenues as the primary reason to close and liquidate the company.

"The decision for this recommendation was inevitable,"a press release cited by the newspaper stated. "After many years of effort, investment and improvements, the financial viability of the golf course operation has not improved enough and combined with the declining number of golfers visiting and supporting the golf course."

"The board will now move forward with determining the best way to liquidate and sell off all of the assets in whole or in part, and to review any further offers that may be received," the release stated.

Naples Golf and Country Club was established in 1921 as a nine-hole golf course and later expanded to its current 18 holes in 2000, according to its website.

Comments

Type your comment here:

Today's Poll Do you believe the FCC's net neutrality vote was tainted by a “fatally flawed” public comment process, and that it would be a sufficient reason for the decision to be nullified by the courts?<>
ADVERTISEMENTS
Most Popular on Facebook