TOUSA is better known to the public as a group that combines these homebuilders: Engle Homes, Newmark Homes, Fedrick, Harris Estate Homes, and Trophy Homes.
HOLLYWOOD, Fla. (AP) — Homebuilder TOUSA Inc. said Thursday its third-quarter loss widened and it may be forced to file for bankruptcy as the housing slump in Florida worsened.
The company said its ability to remain solvent depends on restructuring to reduce debt in exchange for equity.
TOUSA shares plunged to 25 percent to 19 cents in morning trading on the news. The New York Stock Exchange has informed the company it may delist the stock because it has traded below $1 for more than 30 days.
PS: Our rental is an Engle home.
Thursday, November 15, 2007
First big homebuilder to go bankrupt, who will be next...
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