Current news for this company:
Innovative Communities - California developer
Innovative Communities, a California developer, is expected to file for Chapter 7 liquidation by December 31.
According to the article:
The winddown of Innovative Communities has resulted in numerous lawsuits and recent layoffs of some 85 employees.
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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.