The golf entertainment sector had a challenging year in 2025, which continued into the beginning of 2026.
Topgolf Callaway Brands Corp. on Jan. 1, 2026, closed a sale of a 60% stake in its Topgolf and Toptracer businesses to Leonard Green & Partners LP, with a $1.1 billion valuation of the Topgolf, which would net the seller about $660 million from the sale.
The $1.1 billion valuation was significantly lower than the $2 billion equity value of Topgolf in October 2020, when Callaway Golf Company and Topgolf Entertainment Group entered into an all-stock merger agreement.
Other golf entertainment businesses have struggled this year, as well.
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Craft Putt files for bankruptcy protection
And now, a Topgolf rival and fledgling minigolf and taproom chain, Craft Putt LLC, filed for Chapter 11 bankruptcy protection to reorganize its business.
The taproom and miniature golf entertainment center, with locations in Overland Park, Kan., and Lee’s Summit, Mo., filed its Subchapter V petition, No. 26-20586, in the U.S. Bankruptcy Court for the District of Kansas in Kansas City on April 17, listing assets of up to $100,000 and liabilities from $1 million to $10 million, according to Bankruptcy Observer.
Craft Putt did not indicate a reason for filing for bankruptcy in its petition. The debtor was not immediately available for comment.
The Lenexa, Kan.-based debtor is represented by Nicholas R. Grillot of the Hinkle Law Firm LLC in its Chapter 11 case. It filed motions seeking use of its cash collateral during the bankruptcy case, and an order authorizing payment of wage claims, according to Inforuptcy.
Craft Putt was founded in 2022 by its owner, AJ Chinn, who combined his love of both minigolf and craft beer into a business that has expanded to two locations, according to the company’s website.
Craft beer menus are different
The craft beer menus at the two establishments feature local breweries and have different brews on tap at each location.
Breweries featured at the Overland Park location include Vine Street Brewing, Free State Brewing Co., Transparent Brewing Company, Boulevard Brewing Co., and Limitless Brewing.
Lee’s Summit‘s craft beer menu features breweries, such as 4 Hands Brewing Company, tCinder Block Brewery, Stockyards Brewing Co., and Diametric Brewing Company.
Minigolf course layouts adjusted
Craft Putt constantly rotates its beer selection in its taprooms, according to its website, and to keep things interesting, the company occasionally adjusts the minigolf hole designs to keep the game competitive.
Several other golf businesses filed for bankruptcy in 2025, as well.
PinSeekers declares bankruptcy
PinSeekers DeForest, a DeForest, Wis., Topgolf competitor and operator of a PinSeekers hybrid-golf entertainment venue, filed for Chapter 11 bankruptcy in February 2025.
Meadows Country Club in Sarasota, Fla., filed for Chapter 7 liquidation in July 2025, Business Observer reported.
More golf companies file for Chapter 11
Also, Wohali Land Estates LLC’s golf course and luxury home project in Coalville, Utah, filed for Chapter 11 bankruptcy in August 2025 with about $13 million in debt, The Park Record reported.
Nicklaus Companies LLC, the iconic golf-course designer and developer of golf and real estate communities, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on Nov. 21, 2025, after losing a $50 million damages judgment in a lawsuit filed against the Palm Beach Gardens, Fla., company by founder, former co-chair, and golf legend Jack Nicklaus.
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