The International Golf Club & Resort in Bolton, once home to the world’s longest golf course, filed for Chapter 11 on Monday in U.S. Bankruptcy Court District of Massachusetts, and the club’s management has told employees it will not re-open, even after the coronavirus pandemic has cleared.
The club, which originated as a nine-hole course in 1899, is located less than an hour northwest of Boston.
Geoffrey Cornish was the original course architect and Robert Trent Jones, Sr., redesigned the original layout in 1972. After Jones’ redesign, the Pines Course was the longest course in the world, and also considered one of the most difficult.
A second course, designed by Tom Fazio and named The Oaks, was added in 1999.
According to the bankruptcy filing, the International and related entities listed assets of $10 million-$50 million and liabilities of $10 million to $50 million for 100-199 creditors.
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Chapter 11 allows a reorganization of a debtor’s business debts and assets. In most instances, the filing of Chapter 11 automatically stays certain collection and other actions against the debtor and the debtor’s property.
On March 18, the club closed and laid off the majority of its staff, a day after the state ruled all restaurants must close other than takeout service due to the coronavirus. Members and those with events booked at the club scrambled for refunds.
Owners Kevin Weadock and Ann Weadock informed managers that the coronavirus had worsened the private club’s financial outlook and that the club would not reopen, not even after the virus threat ended, according to multiple people at the March 18 meeting. Members were told only that the majority of the staff was let go.
Members heard nothing from the club until a week later when Kevin Weadock emailed them to say the club would reopen when Gov. Charlie Baker allowed golf courses to do so. People who had booked weddings at the International weren’t told anything. The governor has closed nonessential businesses until at least May 18.
Nine days after the club closed, Bryan Weadock said he had taken over control of the club in place of his brother Kevin. That day, Bryan Weadock disputed rumors that the family was considering bankruptcy, insisted the family has the finances to continue to run the club, and said that it was not for sale.
Albano said he has since booked Wedgewood Pines CC for the same date and that Wedgewood has been far more accommodating.
The International operates as three entities: the International Golf Club, which oversees the golf courses and memberships, Arklow, which owns 700 acres of real estate on which the club operates, and Wealyn, a limited liability company that manages food and beverage service. Arklow’s limited partners are: Florence Weadock, her sons Kevin and Daniel Weadock, her daughter Ann Specht, and Brian Lynch. Wealyn’s members are: Lynch, Florence Weadock and Arklow.
According to the bankruptcy filing, the largest debt of $10.4 million is owed to Florence Weadock, whose children manage the club. In 1999, Arklow borrowed $10 million from Florence Weadock to purchase land for the construction of the Oaks Course. In 2014, Arklow borrowed $9 million on an unsecured basis from Bank of America to fund International’s operations. As a condition of the loan, BOA required Florence Weadock to guaranty the debt and to collateralize her guaranty with securities.
Arklow also owes the town of Bolton $54,000 in real estate taxes.
Twenty of the other largest creditors are owed $65,000 to $80,000 each. The club’s initiation fee is $65,000 and annual dues are $8,000. The club listed 39 active deposit members and 100 active non-deposit members.
The International has two 18-hole golf courses, a 54-room hotel, a restaurant and a function room.
Donald Ethan Jeffery, the Boston attorney who filed for bankruptcy on behalf of the club, did not immediately return a voice message.
Bill Doyle is a reporter for the Worcester Telegram and Gazette, a part of the USA Today Network. Contact him at atwilliam.doyle@telegram.com. Follow him on Twitter@BillDoyle15.