Japan Recession Results in Closing of Hakusan Golf Course – $184K Fees Uncollectible

The recession in Japan has hit one of Japan’s golf courses – the Hakusan Golf course.

I reckon the course management couldn’t collect the membership fees that had DROPPED to $184,000.

The Hakusan Golf club filed bankruptcy with liabilities of Y10B ($110 million!). That’s an awful lot to go into the hole, no?

The club had been in business since 1973. Declining membership over the past five years is to blame.

I wonder, had they considered lowering the membership fee? Just how much can it cost to keep a golf course running in Japan?