Hurd Windows and Doors files for Chapter 11
Hurd Windows and Doors has filed a voluntary petition for a Chapter 11 reorganization in federal court in the Western District of Wisconsin, citing the high cost of lawsuits it inherited when it purchased Hurd Millwork. Monarch Holdings, which acquired the Medford, Wis.-based Hurd in 2004, listed its accumulated liabilities at $10 to $50 million.
Court papers list David S. Mulcahy as having 100 percent ownership in Monarch Holdings and its affiliates, including Hurd Windows and Doors.
In a prepared statement, Hurd said its has secured access to operating cash from its senior lender, LaSalle Bank National Association. As part of the reorganization, Monarch has shut down American Weather Seal, a vinyl window manufacturing operation in Ohio.
“The company expects to continue to operate in the normal course of business during the chapter 11 reorganization process with our current team of management and employees,” the statement said. “All of the company’s services will continue to be offered.”
Carolina home builder files for bankruptcy
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.
Montana mill suspends operations
Plum Creek Timber has suspended operations at its finger-joint stud manufacturing facility in Kalispell, Mont., according to the Flathead (Montana) Beacon.
The plant, which produced specialty wood products for new residential construction, employs around 24 people.
In a statement from the company, Hank Ricklefs, vp-Northern Resources and Manufacturing, said, “Market prices are depressed and don’t currently cover the costs of production. We reduced shifts in January, hoping to avoid a production stop, but unfortunately the market has not changed.”
According to the newspaper, Plum Creek earlier this month laid off workers at a Columbia Falls, Mont., mill, while nearby Tricon Timber laid off 40 individuals at a St. Regis, Mont., facility.