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T.F. Robertson Cos. - residential homes, AZ-based

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2008-07-04

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stories: azstarnet.com

This Tucson, AZ-based builder has filed for bankruptcy. From the above article:

Led by its president, Timothy F. Robertson, the company has been building custom and semi-custom homes in the Tucson area since 1989, according to its Web site.

The company has built more than 300 homes to date, with some of its most recent projects in Starr Pass, the site said.

The company has estimated assets and liabilities between $1 million and $10 million, according to court filings. The company is located at 450 N. Sixth Ave. A message left at the company's offices Thursday evening was not immediately returned.

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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.