((HT: AJC.com/Stevens))
Former University of Georgia head football coach Jim Donnan has had to file for Chapter 11 bankruptcy protection citing $10-million in debts with $8.25-million to one creditor alone who themselves filed for bankruptcy last spring.
Alexis Stevens and the AJC have found in court documents that the bulk of that debt is connected with GLC Limited. GLC, in their February documents, claim almost 600 creditors ranging from individuals to businesses themselves centering around the money used to invest in liquidation stores in the Appalachians.
The Ironton Tribune has the details hyah...
The Donnans, apparently, owe the Internal Revenue Service $300,000 for 2010 and also owe four banks over a million dollars. In late June, the Donnans entered credit counseling.
No word on the next court date for the former coach...
Here's a flashback on one of Donnan's signature moments as coach- the win in 2000 over Tennessee in Athens where the student body actually got to take the goalposts down at Sanford Stadium...
((HT: ESPN/SEC/youtube))
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