Patriot Homes' building centers operate under the names of Crystal Valley Homes, Patriot Homes of Texas, and Patriot Homes of Alabama.
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updated: 9/30/2008 8:40:50 AM
Northern Indiana Home Builder Announces Bankruptcy
Middlebury-based Patriot Homes, Inc. has filed for Chapter 11 bankruptcy protection. The Elkhart Truth reports the company is citing a downturn in the housing market and a tightening of the credit markets for its need to reorganize. Patriot Homes expects to maintain normal operations during the reorganization process.
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Patriot has production facilities in Alabama, Indiana and Texas, employing more than 500 people.
The company says it will produce about 1,850 homes this year, despite having the production capacity to build about 3,500.
Source: The Elkhart Truth
