Current news for this company:
Prime Development Inc. - Developer
The St. Louis Business Journal reports that home builder / developer Prime Development Inc. was forced into involuntary Chapter 7 bankruptcy. Prime Development was the devloper of a 149-lot subdivision among other projects. The bankruptcy bid came on the heels of liens that were placed on the company some nine months prior. According to the article:
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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.