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Oakridge Homes LLC - Home builder
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2008-06-18
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stories: wsj.com
California-based Oakridge Homes LLC has filed for Chapter 11 bankruptcy protection according to an article from the WSJ. Per the article:
Oakridge Homes didn't state in court papers whether it intends to reorganize or liquidate its assets during its stay in Chapter 11. An attorney for the company didn't return a call seeking comment by Tuesday afternoon. Oakridge, of Valencia, Calif., listed assets and debts in the range of $10 million to $50 million in its bankruptcy petition.
Details are still sparse and we have yet to confirm if Oakridge Homes had a website. If you can provide us with any information regarding this listing, 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.