A longtime player in the Omaha, Neb., home-building market, HearthStone Homes, filed for bankruptcy late last week, Builderonline.com reports.
HearthStone has been in business for 40 years.
The Omaha World-Herald reported that owner John Smith planned to go before a judge this week to tell why HearthStone should be allowed to reorganize so it can stay in business. The paper said a plan to sell the firm had fallen through.
However, the World-Herald noted, factors in the way of getting back into business "include a $17.5 million overdue loan to Wells Fargo Bank, vendor liens and mounting bills."
