True Temper Files Chapter 11 Bankruptcy
True Temper the #1 maker of steel shafts…hell one of if not the only true monopolies in the golf industry has just filed for Chapter 11 BANKRUPTCY! Now they say nothing will change within the company and this is just a restructuring of debt…but we will have to wait and see how this all shakes out.
#1 Shaft For 80 Years!
As soon as steel shafts were allowed to be used (1930) True Temper was the leader in the steel shaft industry…and they still are today. Very rare that you find someone lead the pack for almost 80 years…from start to finish.
True Temper revolutionized the game of golf with their innovative products. They were the company the invented the step-down shaft the majority of us still use to this day. They also invented flexes (regular, stiff, etc). Ever heard of the “Iron Byron”?…yeah that was them too. If there was a new technology True Temper was almost guaranteed to be the company who was behind it.
But even with record sales of $128 million dollars in 2008 they still racked up more debt then they were able to pay. This isn’t the first golf company to file bankruptcy since the downturn in the golf equipment industry and it will NOT be the last either.
The Future For True Temper?
I actually think they will be fine as well…this company just had gotten a little too big for their britches for a market like the current one. Not their fault really but it just could not be sustained. I am sure it could have been handled better although True Temper still has incredible brand awareness and will not shut their doors. I feel like this is more like a “Wipe the slate clean” feeling from their debtholders and “Now lets get back to making money” kind of thing. I am sure this will force them to become a more well oiled machine in the future and I still see them remaining as the leader in the shaft industry for a long time to come. This is not a easy market to break into (steel shafts), it is much more difficult then the graphite shaft industry. And True Temper has not only the experience but the know-how and they own almost all the technology. So we don’t expect to see them go anywhere in the near future.
J. W. Hagar
15 years ago
These “Folks” will learn what an “Overhead Diet” is, respond and still be around. Played them for many many years and continue to do so. Good steel shafts make graphites look sick over a long period of time. 80% of my five playing sets are shafted in steel and I wouldn’t change them!! The feel is superior!! Some of my vintage clubs have shafts as old as me (Pyrotene) but live on and produce good results when used and maintained properly!!!! JWH “a purist at heart”