Neumann Homes

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Chapter 11 Reshapes Builders Emerging From It Chapter 11 Reshapes Builders Emerging From It

But changes to their operations are attributed more to market conditions instead of bankruptcy. Read more

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Neumann Homes Files Chapter 11

Builder owes more than $100 million; subcontractors expeted to file a flurry of mechanic's liens. Read more

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Neumann Homes Files for Bankruptcy

Warrenville, Ill.-based Neumann Homes filed for Chapter 11 bankruptcy in federal court Thursday, 10 days after the company ceased operations and announced it would seek protection from its creditors. According to the filing, the builder has as many as 1,000 creditors and more than $100 million in liabilities. The builder also estimates its assets at more than $100 million. Read more

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Neumann Homes Plans to Sell Most of Its Land Assets

Over the next several months, Neumann Homes, which will file for federal bankruptcy protection on Thursday afternoon, expects to wind down its home building operations and start selling off most of its land assets in four states. Ken Neumann, CEO and owner of Neumann Homes, tells BUILDER that his primary objective during bankruptcy proceedings would be to maintain his company's "ethics and integrity" with customers, suppliers, and lenders. Read more

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Neumann Homes' Bankruptcy A Blow To A Softening Market

Don't expect an immediate rush of offers for Neumann Homes' assets after that builder files for bankruptcy, say Chicago-area builders and developers. Neumann's defensive maneuver is likely to further erode buyer confidence in the markets it was active in. Read more

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Neumann Homes to File for Bankruptcy Protection

Neumann Homes, which has been on a downward trajectory for more than a year, succumbed to market conditions and its own aggressive expansion when it announced yesterday afternoon that it would file for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Neumann gave every appearance of a company that is shutting down for good, as it has laid off most of its employees, has closed its sales, production, and customer services offices, and has reached an agreement with creditors for loan relief while company officials evaluate Neumann Homes' assets for their eventual liquidation, according to several news reports. Read more

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Neumann Homes Declares Bankruptcy

Builder lays off staff and closes its sales, production and customer service offices. Read more

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Neumann Homes Bankruptcy is Disastrous for Its Subcontractors and Suppliers Neumann Homes Bankruptcy is Disastrous for Its Subcontractors and Suppliers

Contractors left unpaid by a bankrupt Neumann Homes think twice about extending credit to other builders. Read more

Hot Sellers: Transit-Friendly
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Hot Sellers: Transit-Friendly

WHY IT WORKED: Naperville, Ill., a popular Chicago suburb, has plenty of housing... Read more

Capital Climb
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Capital Climb

WHILE NEUMANN HOMES EXCEEDED $500 million in annual revenues for the first time in... Read more

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