Quote:
Originally Posted by MacDougalbry
My understanding of the Alan Ridge situation is that they didn't actually file for bankruptcy or go belly up. They simply cancelled all contracts that hadn't gone to ground yet, and completed the ones that they had started. Of course, as soon as that happened, employees and trades saw the writing on the wall, hence the slow progress. People got their deposits back, but I have heard stories of people who sold their homes last summer who are now forced to buy a home in a market that is 50% more expensive. Jager owns Alan Ridge, so maybe Jager will re-enter the luxury home market under a new name.
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You're probably right, MacDougalbry. I'm really too far detached from that company. We've never framed for them so I really shouldn't be speaking on specifics. Everything I've heard is just rumors. But they were in a mess, no doubt.