Chicago Tribune reports that Warrenville-based Neumann Homes files for Chapter 11 More than $100 million in liabilities listed in document submitted 10 days after the builder ceased operations. read more…
We’ve been wondering why Neumann Homes hadn’t filed earlier will be addressed later today by Kenneth Neumann, the CEO of Neumann Homes.
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Not surprised at all by this, the housing market has been hit hard, new home sales really have been under more pressure as the economy has slown and the credit crunch has all but stopped lenders from making home loans.