Levitt & Sons files for bankruptcy
Just spotted this news article and just about fell out of my chair.
Levitt & Sons, the Florida-based developer of two Seasons communities in north metro Atlanta, filed for Chapter 11 bankruptcy Friday in Fort Lauderdale, leaving hundreds of Georgia homeowners and dozens of prospective homeowners hanging in the balance.
The announcement late Friday capped weeks of uncertainty after Levitt stopped all construction work on its Georgia properties and laid off workers.
With communities at Lake Lanier and in Laurel Canyon near Canton under active construction, the Levitt hiatus pitched a number of would-be residents into a holding pattern with temporary living arrangements and stored belongings as they await the communities’ fate.
Wow!
More:
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Comment by Annie — December 9, 2007 @ 12:05 pm