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Tripp Trademark - Tampa Bay home builder

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2008-10-23

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stories: tampabay.com

The St Petersburg Times reports that Tampa Bay-based home builder Tripp Trademark Homes (website: tripptrademarkhomes.com) has called it quits. Per their write-up on the implosion:

After an 8-year run as one of the region's best-regarded builders, Tripp Trademark Homes is calling it quits.

Company founder Doug Tripp, a former Pulte Homes president who branched out on his own in 2000, said he can no longer afford to sell houses at a loss.

"We're going to walk away from this with our reputation intact," said Tripp, who has spent the past month clearing debts with banks and contractors.

During Tripp Trademark's eight-year existence, they built some 800 homes. The company has reduced from 22 employees to 6 to sell the 20 remaining homes.

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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.