To protect the value of its company, BuildNet Inc. filed for reorganization under Chapter 11 of the Bankruptcy Code. BuildNet, along with six of its subsidiaries, was severely impacted by a difficult capital market and by debt it incurred with a roll-up of its constituent companies. NxTrend, BuildNet's wholly owned subsidiary, was not included in the filing.
Did you enjoy this article? Click here to subscribe to Plumbing & Mechanical.
For plumbers in Flint, Mich., “it’s been a heck of a year,” said Harold T. Harrington, a master plumber and pipefitter working as the business manager for Flint’s United Association of Plumbers and Pipefitters, Local 370. Read more stories in 2017 March Issue.