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Creditor seeks Belding bankruptcy
by Associated Press

A Chapter 7 bankruptcy petition was filed last week against Belding Sports Inc., which owes more than $1.7 million to four creditors, according to papers filed in U.S. Bankruptcy Court in California. A Chapter 7 filing calls for liquidation of the firm's assets.

Summitop Ltd., a Taiwanese corporation, made a claim of nearly $1.7 million against Belding. The King Group, a Commerce, Calif., company, filed a claim of $5,282.50, while Wisewright Manufacturing of Camarillo, Calif., filed a claim of $3,442.02. Efforts to reach company representatives were unsuccessful.

The phones at Belding headquarters in Oxnard, Calif., meanwhile, have been disconnected. Douglas Timms, president and CEO of the golf-bag company, could not be reached for comment.

A source close to the company said officials were negotiating with potential investors as recently as two weeks ago.

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