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Ben Hogan Golf Equipment Company closes down after pandemic struggles

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Ben Hogan Golf Equipment Company has confirmed that the business is no longer active after closing its doors last Friday, July 22, 2022.

The company enjoyed a re-inception in 2017, which included its majority shareholder and Manager of the Board for the BHGEC, Ex Works Capital, LLC, acting as the company’s primary source of funding.

However, according to BHGEQ’s CEO and President Scott White, after their investment portfolio was negatively impacted by the COVID-19 pandemic, the shareholder ceased providing financial support to BHGEC in late 2020.

In an email to GolfWRX, White stated:

“I am very proud of what we accomplished at the Company over the last few years. We had a great team and produced some excellent products that we think would have made Mr. Hogan proud. We were simply underfunded and couldn’t pursue a lot of the more expensive initiatives that would have accelerated our growth.”

Per White, after understanding that they could not provide the capital to the BHGEC to fuel continued growth, ExWorks Capital began a sales process (managed by Chiron Financial Investment Bank) in mid-2021 to identify new investors and/or sources of funding. This process was mostly unsuccessful for several reasons, and ExWorks Financial filed for Chapter 11 bankruptcy protection in March 2022.

Despite this, White added that BHGEC was mostly self-sufficient in 2021 and enjoyed its best year ever since pivoting to its DTC business model in 2017. Per White, the average revenue growth rate (2017 – 2022) was over 46.3%, while the company was break even at an operating level in 2021 and would have achieved (and surpassed) profitability targets if not for supply and financial constraints.

The website is still currently operating but features a banner noting that it is “unable to process orders.” While the company closed last Friday, White revealed in the email that he hoped it wouldn’t be permanent but added that it might well be.

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27 Comments

27 Comments

  1. Ph

    Jul 28, 2022 at 8:12 pm

    To be growing nicely and breaking even in the super popular golf industry in mid 2021, the period we will all look back on as the easiest funding environment maybe ever, and not be able to find any financing/investment to keep the business going? Think some further probing is warranted there…glad I didn’t have any money with that investment firm!

  2. David

    Jul 28, 2022 at 1:48 am

    Not a surprise at all. Most golfers only want to buy gear “the pros play” and why component makers have pretty much gone the way of the dodo and are picked up by Golfsmith.

    PXG is only still alive because they are funded by billionaire and he is willing to lose money or have minimal returns (PXG is probably the equivalent of a lemonade stand for the rest of us).

    I was a huge Hogan fan and have many sets of original Hogan irons that I still play when I play “classics” during the summer. Amazingly you can still pick up a pristine set of circa 70s or 80s Hogan irons for $150-300, and they perform just as good as modern blade irons.

    BHGEC could have made it if they sold at component prices, but their price-point was too high for a DTC model, and they didn’t have as deep pockets as Bob Parsons.

    C’est la vie…

  3. Richard Johnson

    Jul 27, 2022 at 2:14 pm

    Sad to see the company go. I’ve played the Fort Worth 15 irons since 2017. Their equalizer wedges, hybrids and fairway woods are really good. But, they catered to a diminishing niche. Nice while it lasted.

  4. BK

    Jul 27, 2022 at 1:32 pm

    So is there any way for us to buy the remaining stock that needs to be liquidated? I read that a stipulation of the Ownership required that nothing else be sold with the Hogan name, but what will happen to all the existing stock? I would love to pick up a set of PTX Pro’s for 1/2 off!

  5. Edward Bardoe

    Jul 27, 2022 at 11:49 am

    The Hogan DTC concept substituted American assembly for Chinese assembly of Chinese made parts in order to allow customizing. Saved the retail store markup, but couldn’t produce enough volume to pay for the TV ads they bought this year. Perhaps also had to pay rental on the Hogan name from Callaway.

  6. Peter

    Jul 27, 2022 at 11:42 am

    good riddance

    • Richard

      Jul 27, 2022 at 1:12 pm

      Did your buddy smoke you with some Hogan irons, 1/3 the price of the trash you used?

  7. John

    Jul 27, 2022 at 11:36 am

    Crap clubs, no big loss.
    Good riddance.

  8. Steve

    Jul 27, 2022 at 10:48 am

    Here is the answer for Hogan, make a deal with Dicks.. Dicks has saved a lot of brand names and Ben Hogan clubs would be a quality addition to their line up a step above Tommy Armour.

  9. pi

    Jul 26, 2022 at 2:21 pm

    Good example why capitalism is a failure: always searching for growth/increased profits. Ben Hogan golf did not close down because they were making a loss, but because they couldn’t grow enough for their investors.

    • Gordy3279

      Jul 26, 2022 at 3:44 pm

      This is the most ignorant thing on this site ever. If you aren’t looking for growth or profits then there’s no point in owning a business. This is why probably you are broke or close to it.

      • Joe

        Jul 26, 2022 at 4:34 pm

        You’re right Gordy, your comment is the most ignorant thing on this site ever. Eventually there’s no more juice to squeeze genius

        • Moe Greene

          Jul 26, 2022 at 4:40 pm

          Wow, the amount of commies in this place is amazing and pathetic. Hope you all get your clubs at the salvation army and you play golf in your backyard as that is the only way your stance on capitalism makes any sense.

          Btw, you must be stealing your neighbors internet as those ISP companies sure do make a profit too. How can you afford it?

          • Ray

            Jul 27, 2022 at 11:34 am

            Straight to the childish insults, as always with you online windbags.
            There is a big difference between making a fair / decent profit and outright GREED.

            I could add at least a dozen easy insults, but then id be at your level.

          • Peter

            Jul 27, 2022 at 11:47 am

            As usual…
            Straight to the childish insults. Speaks to your character IMO.

            There is a big difference between a fair profit and outright GREED. Then again as you have 5,000 worth of PXG in your bag, who am i to tell you how to be a total sucker right?

            People in glasshouses, as usual… SMFH.

            • Moe Greene

              Jul 30, 2022 at 6:42 pm

              Insults? Why you already said you are commies? I am giving you your commie facts. Grow up.

    • CB

      Jul 26, 2022 at 6:04 pm

      What a really stupid comment EVERY company on earth is in business to make money du-dum!!

    • MICHAEL

      Jul 26, 2022 at 8:55 pm

      You do realize there’s never been a successful communist country, nor, one that could feed all it’s (unlucky) citizens. My friends from the former ussr tell me it wasn’t fun waiting in line for toilet paper.

      • Peter

        Jul 27, 2022 at 11:47 am

        I guess you don’t remember COVID.. LMAO

        • JF

          Jul 27, 2022 at 1:17 pm

          Never ran out of toilet paper here. You must be really full of sh*t if you needed that much TP!

  10. Matt

    Jul 26, 2022 at 2:20 pm

    Good riddance.

  11. Brandon

    Jul 26, 2022 at 10:30 am

    DTC isn’t really appealing to most people for something as personal and subjective as golf clubs. I seriously considered the PTX Pro when I was shopping for new irons, but I couldn’t hit them so I didn’t buy them. I know they had some demo program, but that is just too much effort. When I’m buying new equipment I go to the store, hit the ones I like, and get what feels the best.

    • Peter

      Jul 27, 2022 at 11:52 am

      Testing inside is futile and leads to very bad purchases IMHO
      Unless im testing outside, i aint buying

      • Brandon

        Jul 30, 2022 at 8:40 am

        In an ideal world I’d agree with you. Unfortunately the hitting bay is the only place I can go hit all the current equipment back to back. Not disappointed with my Wilson Staff Model CBs though.

  12. Cdub

    Jul 26, 2022 at 9:45 am

    Man that is sad.

  13. Stacey Uchtman

    Jul 26, 2022 at 6:25 am

    RIP

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BK’s Breakdowns: Cameron Young’s winning WITB, 2025 Wyndham Championship

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Cameron Young’s WITB from his win at the 2025 Wyndham Championship. Cameron is a Titleist staff player but his bag is definitely filled with some unique clubs. Here are the clubs he used to secure his first PGA Tour win!

Driver: Titleist GT2 (9 degrees, A1 SureFit setting)
Shaft: Mitsubishi Tensei 1K Pro Orange 70 TX

3-wood: Titleist GT3 (15 degrees)
Shaft: Mitsubishi Tensei 1K White 80 TX

Hybrid: Titleist GT2 (21 degrees)
Shaft: Fujikura Ventus HB Black VeloCore+ 10 X

Irons: Titleist T200 (4), Titleist T100 (5), Titleist 631.CY Prototype (6-9)
Shafts: True Temper Dynamic Gold X7 (4-9)

Wedges: Titleist Vokey Design SM10 (48-10F, 52-12F, 56-14F @57), WedgeWorks (60-K* @62)
Shafts: True Temper Dynamic Gold X7

Putter: Scotty Cameron Phantom 9.5 Tour Prototype

Grips: Golf Pride Tour Velvet Cord

Ball: Titleist Pro V1x Prototype

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Whats in the Bag

Peter Malnati WITB 2025 (August)

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Driver: Titleist GT3 (10 degrees, C2 SureFit setting)
Shaft: Project X Denali Blue 60 TX

3-wood: Titleist GT3 (15 degrees, A1 SureFit setting)
Shaft: Fujikura Ventus TR Blue 7 X

7-wood: Titleist GT2 (21 degrees, D1 SureFit setting)
Shaft: Fujikura Ventus TR Blue 8 X

Irons: Titleist T150 (4, 5), Titleist T100 (6-9)
Shafts: True Temper AMT Tour White X100

Wedges: Titleist Vokey Design SM10 (48-10F @47, 52-12F, 56-08M @57, 60-04T @62)
Shafts: True Temper Dynamic Gold Tour Issue S400

Putter: Scotty Cameron Studio Style Fastback 1.5 Tour Prototype

Grips: Golf Pride Tour Velvet

Ball: Titleist Pro V1x Yellow

Check out more in-hand photos Malnati’s clubs here.

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GolfWRX Members Choice presented by 2nd Swing: Best driver of 2025

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We’re proud to once again partner with 2nd Swing Golf to bring you GolfWRX Members Choice 2025! 2nd Swing has more than 150,000 new and pre-swung golf clubs available in six store locations and online. Check them out here

What is the best driver in 2025? At GolfWRX, we take great pride in our online community and the cumulative knowledge and experience of our members. When it comes to the best driver of 2025, we want to know what our forum faithful think.

Since our founding in 2005, the bedrock of GolfWRX.com has been the community of passionate and knowledgeable golfers in our forums, and we put endless trust in the opinions of our GolfWRX members — the most knowledgeable community of golfers on the internet. No other group of golfers in the world tests golf clubs as frequently or as extensively, nor is armed with such in-depth information about the latest technology.

Below are the results of GolfWRX member voting for the 2025 best driver, along with the vote percentage for each club.

Best driver of 2025: The top 5

5. Callaway Elyte Triple Diamond: 6.02%

Callaway’s pitch: “For golfers looking for a fast, forgiving, yet workable driver, the Elyte Triple Diamond features a tour-inspired shape and is the preferred model by most Callaway tour players.”

You can read what other golfers are saying about the driver in the GolfWRX forums, and see our launch piece here. Shop the Callaway Elyte Triple Diamond here.

4. Ping G440 Max: 6.86%

Ping’s pitch: “The most forgiving G440 model, MAX has a hotter face to generate speed and distance, and a lighter overall system weight with a longer shaft (46″) for faster clubhead speed, higher launch and longer carries. The Free Hosel and Carbonfly Wrap crown save weight to create our lowest CG ever and increase forgiveness while contributing to a more muted, pleasing sound.”

You can read what other golfers are saying about the driver in the GolfWRX forums, and see our launch piece here. Shop the Ping G440 Max here.

3. Ping G440 LST: 9.53%

Ping’s pitch: “LST is an especially good fit for faster swings, offering less spin and more control with a penetrating trajectory. A hotter face, lighter overall system weight and longer shaft (46″) deliver more speed and distance while maintaining tight dispersion.”

@phizzy30: “Not a fan of Ping drivers in general, but 440 LST takes the cake. It’s super forgiving across the face for a low spin head, looks and sounds good and the ability to make it play neutral or slightly fade biased through the hosel settings is very appealing.”

You can read what other golfers are saying about the driver in the GolfWRX forums, and see our launch piece here. Shop the Ping G440 LST here.

2. Titleist GT3: 16.55%

Titleist’s pitch: “The GT3 Driver offers Titleist’s boldest combination of power and personalization through adjustable performance. Dial in the CG Track to your frequent contact location to make your biggest drives even bigger while taking total control over flight and shaping.”

@mrmikeac: “I’ve been Anti-Titleist for years and years and years (outside of Vokey, of course). With that being said, HOLY BEGEEZUS the GT3 driver is an absolute NUCLEAR MONSTER! This thing blew my G430 10K Max out of the water in every single category. Forgiveness is the biggest thing that stands out of me, the 3 model has always been one of the less forgiving models in the past but this GT3 can take bad shot after bad shot and still end up in the fairway, I think a ton of that has to do with the adjustability, it’s actually effective. Feel and sound is perfect, that solid crack is so addicting to hear and when you hit it out the screws this thing can absolutely bomb it. Titleist, I’m sorry for doubting you. You have converted me.”

You can read what other golfers are saying about the driver in the GolfWRX forums, and see our launch piece here. Shop the Titleist GT3 here.

1. Titleist GT2: 22.91%

Titleist’s pitch: “Delivering impressive distance from any impact point, the Titleist GT2 Driver extracts maximum performance through a forgiving design. Get the stability and added confidence of a high-MOI driver without sacrificing speed.”

@DTorres: “The Titleist GT2 has proven to be the best driver of the year. Packaged in a classic profile, GT2 perfectly balances performance and forgiveness while consistently being a high performer across all categories.”

You can read what other golfers are saying about the driver in the GolfWRX forums, and see our launch piece here. Shop the Titleist GT2 here.

Other drivers receiving >2% of the vote

Driver Vote percentage (%)
Cobra DS Adapt Max K 4.85%
Ping G430 Max 10K 3.85%
Callaway Elyte Triple Diamond 3.68%
TaylorMade Qi35 3.51%
Callaway Elyte 3.18%
Cobra DS Adapt X 2.34%
Cobra DS Adapt LS 2.17%
TaylorMade Qi35 LS 2.17%

 

 

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