The matthews based homebuilder filed for Chapter 7 bankruptcy this week. The company builds homes in communities including The Palisades, a luxury home development near Lake Wylie, and The Club at Longview off Rea Road.
A Chapter 7 bankruptcy filing indicates the company is planning to liquidate its assets, as opposed to shedding debts and reorganizing, as is done in Chapter 11 bankruptcy filings. More than 30 percent of bankruptcy filings in the Charlotte area this year have involved construction-related companies.
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