Current news for this company:
Robert Harris Homes - residential home builder (GA and FL)
Yesterday Robert Harris officially announced the shutdown of his company, which we (and most observers probably) expected after the sales staff was dismissed last week. From the AJC:
The letter went out July 1st.
It appears there is an implied intent to attempt to start up again at some point if restructuring is successful, but due to the open-endedness and uncertainty, we consider Robert Harris Homes an "implode". Good luck to everyone who is/was associated with this builder.
Ailing article, 2008-06-27
According to the AJC, Robert Harris Homes of Woodstock, GA has laid off its entire sales staff:
The article goes on to say that the builder has failed to pay contractors this year, leading to work stoppages. More background on the company is below:
No statement from the company was provided regarding their plans to stay afloat (or otherwise), though dismissing the sales staff suggests and intent to wind down. If you know more, please contact 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.