Current news for this company:
Panitz Signature Homes - Luxury Residential
Florida-based luxury home builder Panitz Signature Homes closed its doors -- a casualty of the weakening housing market. Panitz had operated in northern Florida for some 27 years. Per the Times-Union:
Panitz had been a custom home builder producing some 50 homes per year.
Builder Online provided an update on Panitz Homes' liquidation process noting that Panitz was required to file for Chapter 7 bankruptcy protection after failing to sell the remainder of its inventory. Per the Builder Online article:
The closure affected approximately ten company employees. If you have any further information regarding this implosion 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.