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Grenelefe Golf Resort Goes Belly Up

HAINES CITY, FL-The 30-year-old, 1,000-acre, picture postcard property, 50 miles south of Downtown Orlando, will shut down tomorrow (Feb. 22) after its foreign owners voluntary filed a Chapter 7 liquidation petition with the U.S. Bankruptcy Court in Tampa. Liabilities are expected to exceed $50 million.

By Alex Finkelstein | Updated on February 20, 2002

HAINES CITY, FL-The end of the line came swiftly for the 1,000-room Grenelefe Golf and Tennis Resort, a Florida favorite of top-notch professional golfers for the last 30 years.

Sports Shinko Group of Tokyo, once one of the world’s largest golf property owners and entrepreneurs, filed for the equivalent of a Chapter 11 protection plan in Japan while its American subsidiary, Sports Shinko Florida Co. Ltd., filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Tampa, FL.

The 1,000-acre, three course property, midway between Orlando and Tampa, will shut down tomorrow (Feb. 22). Court officials tell GlobeSt.com Sports Shinko Florida hadn’t listed assets, liabilities or filed full financials on its initial petition Feb. 18 and has two weeks to do so.

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