Ennis Homes, one of the largest 200 builders in the country in 2007, filed Chapter 11 Monday in U.S. Bankruptcy Court, Eastern District of California. According to court documents, Ennis owes between $100 million and $500 million to between 200 and 999 creditors. It also noted assets of between $100 million and $500 million.
Founded in 1979 by Ben Ennis, the Central Valley (Calif.) firm is now run by his children Brian (president) and daughter Pam (vice president, marketing), according to its Web site. Neither Brian Ennis nor his bankruptcy lawyer returned a reporter's calls this morning by press time.
Ennis has not yet filed its list of secured creditors and other documents, which the court has demanded by Feb. 17. However, the largest unsecured creditor is Bacchus Vineyards of Woodland Hills, Calif., with a claim of $1.9 million through a lawsuit still under appeal.
Ennis closed 221 homes for $67 million in revenue in 2007, according to the BUILDER 100.
Alison Rice is senior editor, online, with BUILDER magazine.
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