ClubCorp Provides Update on Impact of Hurricane Harvey
Posted: August 30, 2017 in Chains
ClubCorp – The World Leader In Private Clubs
DALLAS, TX – ClubCorp – The World Leader in Private Clubs (NYSE:MYCC) – provided the following update regarding the impact of Hurricane Harvey on its clubs.
ClubCorp clubs located in the Houston region have experienced heavy rainfall over the past few days and are closed at this time. Our top priority is the safety and well-being of our staff and the members of our clubs. The storm is ongoing and we remain in close contact with all of our clubs in the region affected by the storm. We will continue to monitor the storm and assess its impact on our clubs. We are pleased that, to date, there have been no reports of injuries.
ClubCorp maintains flood and business interruption insurance coverage for storms such as Hurricane Harvey. Furthermore, with more than 200 clubs across the United States and a dues-based model, ClubCorp is a resilient and well-diversified company.
ClubCorp expects that the storm will not have a negative impact on the pending merger transaction with affiliates of Apollo. The special meeting of ClubCorp stockholders to approve such transaction remains scheduled for September 15, 2017 and the transaction is on track to close in our fiscal fourth quarter of 2017.
ClubCorp applauds its dedicated staff for their hard work and thanks the first responders, members of law enforcement and medical personnel who are working tirelessly to aid the communities impacted by Hurricane Harvey.
