In the lower right corner of the Tanner & Haley website, we found “Reorganization” in small text. The link leads to a page summarizing the press release from earlier this week announcing their Chapter 11 bankruptcy filing.

The section includes answers to Frequently Asked Questions for both general topics and vendor inquiries. Questions range from “What is DIP financing?” (“new credit line [for] working capital”) to “How can I be sure this won’t turn into a Chapter 7 liquidation?”

The purpose of our Chapter 11 filing is to preserve the company and position it for long-term strength and success. We are operating normally at all of our facilities and intend to continue to do so.

Although “all of [Tanner Haley’s] destination clubs remain in operation,” we’re surprised to see the website continues to promote contacting a membership director and requesting more information, given the firm’s suspension of new member sales. It looks like the firm has a few more pages to update on the website.

UPDATE (7/31/06): Tanner & Haley has removed all membership information from their website. The home page now provides links to member-only sites for each of their three clubs, along with the bankruptcy FAQs.