USA: Ashworth Sees Q3 Loss On Debt Write-Off
Leading golf apparel producer Ashworth Inc revealed on Monday it will post a quarterly loss after taking a write-off for bad debt. The California-based company said in a statement it will write off up to $4.25 million of bad debt related to an undisclosed retail chain. It added it had $2m in accounts receivable due from the retailer, which also missed a payment on a $2.5m promissory note due last week.
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