Creditor seeks Belding bankruptcy
by Associated Press
A Chapter 7 bankruptcy petition was filed last week against Belding
Sports Inc., which owes more than $1.7 million to four creditors,
according to papers filed in U.S. Bankruptcy Court in California. A
Chapter 7 filing calls for liquidation of the firm's assets.
Summitop Ltd., a Taiwanese corporation, made a claim of nearly $1.7
million against Belding. The King Group, a Commerce, Calif., company,
filed a claim of $5,282.50, while Wisewright Manufacturing of Camarillo,
Calif., filed a claim of $3,442.02. Efforts to reach company
representatives were unsuccessful.
The phones at Belding headquarters in Oxnard, Calif., meanwhile, have
been disconnected. Douglas Timms, president and CEO of the golf-bag
company, could not be reached for comment.
A source close to the company said officials were negotiating with
potential investors as recently as two weeks ago.