AMF Considering Bankruptcy Among Options

AMF Bowling Inc., the world’s largest operator of bowling centers, said it’s considering bankruptcy among options for dealing with debt problems and has hired an advisor to evaluate alternatives. The Richmond, Va.-based company also said that the Securities and Exchange Commission in September subpoenaed documents related to AMF’s financial statements and accounting practices and policies, according to a quarterly report filed with the agency. AMF, which owns and operates 408 bowling centers in the U.S. and 119 centers in nine other countries, said the alternatives are likely to hurt the ability of its shareholders and long-term debt holders to recover their investments. Trading in AMF shares was halted on the NYSE. They rose 3 cents to close at 23 cents on Tuesday and are down 93% this year.

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