Oklahoma City-based sports Equipment Franchiser Golf Usa Inc. has filed for Chapter 11 bankruptcy protection on the eve of a court hearing to place the company into receivership. Founded in Oklahoma City in 1986, Golf USA has franchisees across North America, Europe, South America, Africa and Asia, with more than 100 retail stores in 18 countries, according to its website. As recently as 2007, the company had touted itself as the world's largest golf equipment franchiser. The company filed for Chapter 11 bankruptcy protection on Tuesday, one day ahead of a court hearing to place the company into receivership. Golf USA has less than $50,000 in assets and between $500,000 and $1 million in debts, according to the bankruptcy filing. Read the rest at http://newsok.com/golf-usa-seeks-bankruptcy-protection/article/3815275