Current news for this company:
Choice Homes - DFW Home Builder
Update 2/26/09: Dallasnews.com has published an article on Choice Homes' suspension of operations. Per the article:
Numerous tips have come in that Dallas/Fort Worth and Houston home builder Choice Homes (choicehomes.com) "closed it's doors" yesterday. From one such emailed tip:
Choice Homes out of the DFW area closed it's doors yesterday, the 24th of February . . . they met at 9:00 am and told all employees they were shutting the doors.
Other tips have come in that confirmed that it was "closing immediately" and "toast" as of yesterday.
Choice Homes was a top 50 nationwide home builder in both 2006 and 2007 per builderonline.com having closed on nearly 3,000 homes in 2006 and 1,600 homes in 2007. Per the "about us" section of the company's website:
Choice Homes was at one time "the largest builder in the Dallas/Ft. Worth market" and had previously survived substantial turmoil according to a 2005 article titled Reinvention by Choice. At the time, Choice Homes had some 400 employees and was "just-under-a-half-billion-dollar company."" We are uncertain how those figures have changed since.
Finally, we are unclear at this time what Choice's plans are going forward. If you can provide us with additional information regarding Cholce Homes, please comment below using our forums or email us!
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Important: This company is on our list of builder operations that have "imploded" (see also ailing lenders). This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid declines in enterprise value; or abnormal "bail-out" by corporate parents or peers in order to continue to operate. The builders may be residential or commercial.