Current news for this company:
Land Resource - Developer
Land Resource LLC, a southeastern U.S. developer, has filed for Chapter 11 bankruptcy according to the AJC listing liabilities of over $200 million and assets valued at only about half that.
Per the AJC article:
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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.