The Rim Golf Club Emerges From Bankruptcy

Payson, AZ – The Rim Golf Club announced the transfer of the golf club property to its members has been complete following the bankruptcy of the club’s developer, Crescent Resources.

As part of the bankruptcy settlement, the Club and other creditors will also receive 83

Hole #9 The Rim Club

residential lots within the community and an 80-acre parcel adjacent to the 550-acre residential golf community. These properties will be sold to further enhance the Club’s balance sheet.

In June 2009, Crescent Resources announced a bankruptcy filing, affecting more than 70 properties through the United States. Club management responded quickly to the loss of developer revenue by improving overall operations efficiency and opening the golf course to limited outside play. Despite these changes, the customer service for which the Rim Club is known, continued to excel.

“Everyone pulled together to make some tough decisions that enabled us to ensure minimal disruption during the bankruptcy period” said Rim Club General Manager David Bosley. “Now that it is behind us, we have resumed selling memberships.”

In addition to regular memberships, the Club has created several other categories, offering both junior and business memberships. “We are seeing a surge in interest from golfers around the Rim Country, Phoenix and California,” said Bosley.

The Rim Golf Club, which has received numerous awards since opening, is a Weiskopf-Morrish design located 75 miles from Phoenix in Payson, AZ. The Club will host two Arizona Golf Associations events and a Southwest PGA Sectional event in the summer of 2011.

To read John Davis’ take on The Rim Club, click here.

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