Posted On:
August 30, 2007
Washtenaw County's Wexford Builders In Receivership
The future is unclear for Washtenaw County based Wexford Builders.
At one time, the company was the perfect example of a well-run, profitable residential construction company in Washtenaw County. However, Wexford has been buried by debt, hit by disputes between the company's founders and challenged by the near collapse of the housing market in Southeast Michigan. It went into court-appointed receivership in April.
Despite all of this, Chief Executive Officer Craig Welch insists that the company will continue building homes. He has also stated that Wexford intends to repay its creditors. However, at this point in time, the details of just how this will be accomplished are unknown.
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