The Trump International Golf Club Puerto Rico filed for bankruptcy as Donald Trump, the billionaire real estate mogul who licensed his name to the property, makes a bid for the White House. The Trump International Golf Club Puerto Rico listed $9.2 million in assets against $78 million in debt, according to the course's petition filed.
Donald Trump isn’t involved in the operations of the golf course and a “difficult business climate in Puerto Rico” resulted in the owner’s financial woes, said Eric Trump, the presidential candidate’s son and an executive at the Trump Organization.
The Puerto Rico resort, which opened in March 2004 as Coco Beach Golf, renamed itself in 2008 after licensing the use of Trump’s name. Trump, an avid golfer, is affiliated with 17 golf properties worldwide.