Harbor Custom Development (NASDAQ:HCDI) has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code, the company said Monday.
The company said the bankruptcy was filed in the Western District of Washington at Tacoma.
Harbor said it filed a number of customary first day motions with the court that will allow it to continue operating in the ordinary course of business while it prepares a reorganization plan.
HCDI said it will continue to market and sell finished lots and homes and to operate multi-family projects as they work towards stabilization.
Press Release.
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