The Meadows Country Club in Sarasota, which has been around for nearly 50 years, has filed Chapter 7 bankruptcy. In a Chapter 7 case, the bankruptcy code calls for liquidating nonexempt property and distributing the proceeds to creditors.
A representative answering the phone at The Meadows Country Club says the pool, Racquet Club and fitness center were open as of July 14, while the restaurant and golf courses are closed.
The members-only club filed for bankruptcy on July 7. It has between $1 million and $10 million in assets as well as $1 million to $10 million in liabilities, according to filings with the U.S. Bankruptcy Court for the Middle District of Florida…