Carolina Custom Concrete Inc., which provided concrete services to high-end home builders, has filed for liquidation after more than a decade in business. The company made the Chapter 7 filing in the U.S. Bankruptcy Court for the Eastern District of North Carolina on Dec. 16. The company listed assets of almost $800,000, compared to liabilities of nearly $1.1 million.
"The work just dried up," says bankruptcy attorney Jeb Jeutter, who was unsure how many people the firm employed. "Just a sign of the times." According to bankruptcy court filings, Carolina Custom Concrete posted just $2.2 million in year-to-date business sales at the time of its filing. That was down from $8.5 million in 2008 and $12.5 million in 2007.