Current news for this company:
Legacy Homes - Michigan home builder
Grand Rapids, Michigan-based home builder Legacy Homes has "closed its doors" according to an article at mlive.com:
Some six people lost their jobs as a result of the 30-year-old company shutting down. The article goes on to note that the closure "means home warranties will not be honored by Legacy."
Legacy Homes' website is homesbylegacy.com.
We are classifying Legacy as a "tiny" implosion. If anyone can provide additional information as to their peak size (i.e. homes built, employees), please leave a comment below 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.