Floundering Ashworth Looks For Rescue

by The Editors on September 12, 2008

Golf280Things just aren’t looking too sweet at Carlsbadistan’s once booming golf clothing manufacturer Ashworth Golf Company.

Earlier this week the company posted a lost of $9.6 million loss for the last quarter up nearly double from the same period last year, according to a story in the San Diego Union-Tribune. Now the company may be looking for a buyer.

The Carlsbad firm hired Kurt Salmon Associates to help it explore strategic alternatives. The investment bank worked with Ashworth rival Cutter & Buck, which sold last year to Swiss clothing maker New Wave Group.

Guess this is what happens when new management moves in every couple months.

[Link: San Diego Union-Tribune]

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