True Temper files for Chapter 11 bankruptcy

AMORY – True Temper Sports filed for Chapter 11 bankruptcy protection late last week, but said in a press release that proceedings won’t impact employees, suppliers or its day-to-day operations.
The company also referred to the bankruptcy as a “balance-sheet only restructuring” in a story on BicyleRetailer.com. True Temper owns a 325,000-square-foot steel manufacturing facility in Amory. The facility was opened in 1965. A company representative was unavailable Monday for further comment.
According to Reuters, True Temper listed estimated assets of about $180.5 million and estimated liabilities of about $319 million.

NEMS Daily Journal