Current news for this company:
Elliot Building Group - Residential
Elliot Building Group, a Pennsylvania-based home builder, filed for Chapter 11 on June 10, 2007. Elliot went from making revenues of $60 million plus in 2005 and 2006 to losing $5 million in 2007. Per the Bloomberg article reporting on their bankruptcy filing:
An October 2007 article from Builder Online gave an update on the liquidation of Elliot Group's assets and remaining liabilities. Per Builder Online:
If you have any further information with regard to Elliot Group's bankruptcy proceedings or the causes leading up to their filing, please let us know!
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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.