Current news for this company:
Nouveau Homes, Inc. - Residential
Per the Sacremento Business Journal, Rocklin-based Nouveau Homes, Inc., filed for Chapter 7 bankruptcy protection. A "tiny" implosion, Nouveau Homes' business was characterized as:
The Journal notes that Nouveau had debts of approximately $18 million and assets of less than $100,000.
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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.