Cliffs Club & Hospitality Group Inc, subsidiary of CCHG Holdings, filed for bankruptcy protection on Tuesday.
Cliffs Club & Hospitality Group owns several luxury golf communities in South Carolina and North Carolina. The Travelers Rest, South Carolina-based company listed less than $50,000 assets but $100 to $500 million debt in Chapter 11 documents filed in U.S. Bankruptcy Court in Spartanburg, South Carolina.
Cliffs Club's parent CCHG Holdings is owned by the Cliffs Communities Inc. Cliffs Communities' developer Jim Anthony hold majority of the stock share. However Anthony declined to make any comment.
In addition, Cliffs Club's eight affiliates also filed a petition for relief under Chapter 11. They were doing business as Cliffs golf and country clubs and an entity as Cliffs Club & Hospitality Service Co.
