MA-based New Balance is scheduled to announce today that it has decided to remain in Boston and relocate its headquarters and local manufacturing to a redeveloped site in Brighton, according to Jennifer Babson of the BOSTON GLOBE. New Balance said last year it had outgrown its headquarters near the Allston-Brighton line and was "courted by cities and towns throughout New England and as far away as North Carolina." As part of the new arrangement, sources said that New Balance will "likely" obtain some form of city and state tax relief (Jennifer Babson, BOSTON GLOBE, 6/18).
CA-based Lynx Golf "disclosed that it cannot repay a loan and may seek federal bankruptcy protection," according to Bruce Bigelow of the SAN DIEGO UNION-TRIBUNE. Lynx "laid off 25 full-time workers and has negotiated salary cuts with its senior executives." The number of remaining employees was "unclear," but Bigelow notes that before relocating to Carlsbad, CA, last year, Lynx had 120 employees. Lynx also reorganized its board of directors, saying that six members "had resigned." Paul Little, a former Lynx director and principal with GTL Securities of Toronto, has rejoined the board. Despite introducing new lines of titanium clubs last year, the company said that losses "widened to" $11.2M for the second quarter ended January 31, compared with $3.6M last year. Lynx was sold last year to an investment group that includes actors Jack Nicholson and Clint Eastwood, and golfer Fred Couples is the second-largest shareholder in the company with a 5% interest (SAN DIEGO UNION-TRIBUNE, 6/17).