On May 20, 1995, at 2000 central daylight time, a Cessna 175, N7152M, collided with a fence while landing near Malvern, Arkansas. The private pilot was not injured and the airplane sustained substantial damage. The airplane was being operated by Malvern Flyers, Inc., under Title 14 CFR Part 91. No flight plan was filed and visual meteorological conditions with calm winds prevailed for the local personal flight which departed Malvern at 1930 CDT. According to the pilot, after landing on the first third of runway 03 at Malvern Municipal Airport, the airplane's brakes failed. The airplane exited the left side of the runway, passing through a ditch, across a road, and coming to rest against a tree and a fence post. Damage to the airplane included distortion of the fuselage and bending of both wing spars. On May 22, 1995, a Federal Aviation Administration (FAA) inspector examined the airplane's brakes and found "they functioned good and had no defects." He also observed skid marks of both the left and right main gear tires on the runway leading to the point at which the airplane exited the runway. A copy of the inspector's statement is attached to this report. Examination of the pilot's logbook by an FAA inspector revealed that the last logged flight was on October 2, 1994. The pilot completed a biennial flight review on March 12, 1994, and logged a total of 4.9 hours of flight time in 1994.