Submitted by SurfCityTom on Mon, 10/15/2012 - 5:31pm.
what the project cost.
But, the contractor is never paid the entire contract amount up front. Normally there is a construction schedule which denotes amounts to be paid as construction continues.
This job may not have been the issue which drove them into bankruptcy court. If you look at their website, they do many types of projects. Very possible they were stiffed on a private sector project which brought them up short.
Likely will not know until it wends its way out of the judicial system.
I am un certain
what the project cost.
But, the contractor is never paid the entire contract amount up front. Normally there is a construction schedule which denotes amounts to be paid as construction continues.
This job may not have been the issue which drove them into bankruptcy court. If you look at their website, they do many types of projects. Very possible they were stiffed on a private sector project which brought them up short.
Likely will not know until it wends its way out of the judicial system.