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Friday, November 09, 2007

Home Builder Dunmore Homes Files Bankruptcy

by Calculated Risk on 11/09/2007 05:42:00 PM

From the Sacramento Bee: Dunmore Homes files for bankruptcy protection (hat tip JR)

Seeking protection from creditors, Granite Bay home builder Dunmore Homes filed for bankruptcy late Thursday as it tries to restructure its tangled finances.
The company, which claims to have built 22,000 homes since 1953 in California and Nevada, listed assets and liabilities of more than $100 million. It claimed between 5,000 and 10,000 creditors.

The largest is JPMorgan Chase Bank, which is owed $20 million, according to the filing. Many of the largest creditors are local construction firms.
This is just the beginning. As noted earlier, Neumann Homes filed for bankruptcy two weeks ago. Is there a home builder Implode-a-meter?