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.