Current news for this company:
Turner-Dunn - Residential
Turner-Dunn, a Phoenix-Arizona home builder, filed for Chapter 11 bankruptcy protection according to The Arizona Republic. At the time of their filing, Turner-Dunn left some 200 homes unfinished and approximately 450 housing lots. Regarding Turner-Dunn's liabilities, the Republic notes:
In an unrelated note, apparently Turner-Dunn was fined $11 million by the National Indian Gaming Commission for "for managing the Quapaw Tribe's Oklahoma casino for four years without an approved management contract."
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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.