Carbite Golf emerges from Chapter 11 bankruptcy with... -
[Cached Version]
Published on: 3/14/2004
Last Visited: 11/2/2004
Carbite Golf President Bill Zebedee told PGA.com that his company -- contrary to some media reports -- never completely shut down operations, and that the success of its 2003 and ,04 putter lines allowed it to present a proposal that the Bankruptcy Court accepted.
"We,re emerging from (bankruptcy) with all of our past sins essentially behind us, with a clean balance sheet and I would say poised for a strong retail entry in ,05,,, said Zebedee, who came on as president at the request of Carbite,s board of directors shortly before the bankruptcy filing in November 2002.
"Basically what we,ve done the past two years is attempt to polish the (Carbite) name and clean up our act with retailers and green grass shops," Zebedee said."I think we,ve made a lot of progress.We have no quality issues and we do what we say we,re going to do.I can,t tell you we,re always Johnny on the spot in terms of deliveries, but we try our best.,,
Carbite,s product line -- trimmed down significantly from its free-spending days in the late 1990s, includes the Tri-Weight Series of mallet and blade putters and the Tour Classic blade putter with the company,s Polar Balanced technology.Zebedee said Carbite will introduce new putter lines early next year but will never have the kind of excess inventories of the previous management that helped lead to the bankruptcy filing.
"We had about a 10-year supply of left-handed putters -- and much of it was inferior quality.We also had gone into a whole range of new designs, some of which not well though out, and we had a lot of warranty issues,,, Zebedee said.
Despite those problems -- now all behind -- the company managed to retain a lot of equity in the Carbite name among consumers.
"The average golfer had a pretty good feeling about the name, so our focus, in particular, was to make sure we got the quality right, the technology up to date and pegged the price at price point that was attractive to the market place.Our product returns the past two years have been negligible,,, Zebedee said.