Jeff Mayers, Sawgrass Marriott general manager, stated in a release that the companies filed for bankruptcy protection because of "the current global economic environment and the fact that an agreement on a restructure with the lenders could not be reached." He added that the Chapter 11 process will allow the resort to continue operating as usual.
The 508-room resort is adjacent to the TPC Sawgrass Players Stadium Course, where The Players Championship is played each May. It gained notoriety as the venue where Tiger Woods apologized on Feb. 19 for his marital infidelity.
To read the full story from the Florida Times-Union, click here.
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