Current news for this company:
Empire Land - Land development
The LA Times has reproted that Ontario, California-based Empire Land has fild for bankruptcy protection:
The article goes on to note that Empire had assets/liabilities of $100 to $500 million (Quite a range, if anyone can narrow this down, please let us know).
Big Builder Online described Empire's 2006 operations as follows:
If you have any further detail as to Empire's bankruptcy proceedings or could elaborate on any broader implications of their closure, 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.