Business & Tech

Cliffs Communities Filing for Chapter 11 Bankruptcy Protection

CEO Jim Anthony told a local media outlet the deal is "a relief."

Known for their prestigious group of golf course communties, the CEO of The Cliffs Club and Hospitality Group, Inc., told WYFF 4 on Thursday he would file for Chapter 11 for bankruptcy protection.

Jim Anthony, an 80 percent shareholder of the group, said the club was about $50 million in debt. You can read more about The Cliffs on the company website.

The Cliffs property owners were notified on Tuesday by mail and the announcement was then made public.

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