News

Carolina home builder files for bankruptcy

BY HBSDEALER Staff

Charlotte, N.C.-based home builder Classic Southern Homes has filed for Chapter 7 bankruptcy, with listed debts from $1 million to $10 million.

In its bankruptcy filing in North Carolina, the builder lists more than 50 creditors, including Home Depot, Stock Building Supply, Lowe’s and a number of local dealers, such as Larry Helms Flooring and Matthews Building Supply.

According to its Web site, Classic Southern Homes had a substantial renovation business in addition to its home-building enterprise. The business, started in 1998, focused about 70 percent of its business on renovations, particularly historical renovations.

Classic Southern Homes is not to be confused with Southern Classic Homes, a home builder based in eastern Florida; and Southern Classic Home, a separate home builder based in Lexington, S.C.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?
News

Home builder sentenced to 90 days

BY HBSDEALER Staff

Brian Brady, president of Utah-based Cobalt Homes, has been sentenced to 90 days in a case of subcontractor and homeowner fraud, according to local news reports.

Brady was sentenced by a Salt Lake County third district court judge to 90 days, with a fine of more than $300,000 for defrauding homeowners. He also will serve six years probation after pleading guilty to four third-degree felony counts of communications fraud.

Brady was charged after failing to fulfill promises to homeowners to pay liens that had been placed against them from subcontractors that did work for Cobalt. The builder developed resort areas in and around the city of Draper, Utah.

According to Utah court records, Brady filed for Chapter 7 bankruptcy protection in July 2008.

Additionally, an office manager for Cobalt homes named Melissa Brunner earlier pleaded guilty to four Class A misdemeanor charges of attempted communications fraud. Her sentence was suspended, but she was ordered to pay a fine of around $130,000 in the matter.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?
News

Workshops set for “mislabeled” building materials

BY HBSDEALER Staff

The Lumber Association of California and Nevada (LACN) will hold a series of workshops in September and October on “Testing Lumber and Building Materials.” Held in cooperation with the Department of Food and Agriculture, Division of Measurement Standards, the sessions will explore California’s stepped-up inspections of lumberyards for “mislabeled” products, resulting in citations, fines and red-tagging (removing from for-sale inventory). Criteria include panel sizes and thickness.

The workshops will also address how the measurement standards affect LBM manufacturers, wholesalers and distributors.

Workshops run through mid-October and will be held in Rancho Cordova, Redding, Santa Clara, Riverside, Burbank and San Diego. They are open to both LACN member and non-members. For more information on dates and times, visit www.lumberassociation.org.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?