Two local golf courses under permanent receivership

Two local golf courses under permanent receivership

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by AMY COWMAN / NBC Charlotte

Bio | Email | Follow: @amywcnc

WCNC.com

Posted on August 7, 2013 at 6:00 PM

Updated Wednesday, Aug 7 at 6:21 PM

CHARLOTTE, N.C. -- Two popular golf courses in Mecklenburg County are under new ownership now. A judge placed them in receivership, since Carolina Trail Golf Group owes million in unpaid loans.

"I'm not surprised," said Charlotte Golf Links member Mike Wood.
 
Members at Charlotte Golf Links still teed it up, despite being teed off about ownership at their club.
 
“The maintenance of the course has been below par and that's a sure sign they don't have the revenue stream that they need," said Wood.
 
Charlotte Golf Links on Providence Road and Skybrook Golf Club in Huntersville, both part of the Carolina Trail golf group, were placed under permanent receivership Wednesday morning. A lender claims owners owe some $7 million in loans, which is concerning news to invested members.
 
"I was actually considering moving from Skybrook because if there's a club in a property, the values go down if it goes bankrupt," said Skybrook member Steve Smith.
 
The trustee has hired Billy Capser Golf Company to oversee operations for now. This isn't the first of the company's seven courses to be in trouble. Back in July, the IRS shut down Birkdale Golf Club for owing back taxes. The club has since reopened. Regular local golfers say they've noticed the company decline.
 
"Condition of the golf course got pretty rough several years ago, and I didn't enjoy it that much,” said golfer Steve DeMonbreun.
 
And they know many of the pros have had to deal with paychecks being held.
 
"Very nice guys, good professionals and they work hard to try to keep professional," said DeMonbreun.
 
For members, the future of their investment is now unknown.
 
"I paid for two years and shortly one year is going to be up, so I'll likely lose a year's worth of advance payment," said Wood.
 
The receivership tells NBC Charlotte they have no plans to close the clubs right now. As far as any memberships or employee status, they say that will have to come in a while.

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