The Wall Street Journal Wealth Blog has a post today entitled The Country Club Crash. The post discusses the problems country clubs are having in these economic times, and the article references the posts here about Gold Creek Golf Club and Cherokee Run Club.
Golf clubs in the South are shutting down or going into foreclosure faster than a Hummer dealership. Gold Creek Golf Club, a 354-acre golf and tennis facility in Dawsonville, Ga., shut down in August after the company that owned it went bankrupt. Cherokee Run Country Club in Conyers, Ga., filed for bankruptcy last fall, owing more than $2.9 million to various creditors. … Coastal Georgia’s exclusive Sea Island, once considered one of the top courses in the country, has laid off as many as 400 employees.