Top-Flite not up to par

Top-Flite, the world’s largest golf ball maker, has filed for bankruptcy and is selling its assets to club maker Callaway for £75m (€107.6m).

Top-Flite chief executive Jim Craigie said the Massachusetts based company’s £150m (€215.3m) in sales last year were deluged by £320m (€460m) debt in a market that was too competitive