Chicago homebuilder, Kirk Corp has filed for Chapter 11 bankruptcy, but may end up in Chapter 7 if it cannot access certain funds. The company listed $96.8 million in assets and $64.5 million in liabilities.
Kirk is in the same situation as various other home builders who have had to file bankruptcy or shut down over the last two years. In this particular case, however, the company needs lenders to agree to let is use over $418,000 in the next three weeks or it will have to liquidate.
If you are considering bankruptcy, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.