Dale Thompson Builders -- a prominent Columbia builder known for the Scot's Glen and planned Riverdale townhouse communities -- has filed for Chapter 11 bankruptcy, according to court documents obtained this week.
Thompson, of Clarksville, filed the paperwork June 5 in U.S. Bankruptcy Court for the District of Maryland. The paperwork states the bankruptcy is due primarily to business debts and lists roughly $33.8 million in secured debt and $29 million in unsecured claims, with assets around $3.3 million.
Creditors have until Oct. 13 to file claims. So far, 28 have filed paperwork seeking about $1.5 million, court records show.
An attorney representing Thompson did not return a call for comment.
Dale Thompson Builders has been struggling for months, shutting down its Columbia office and seeing some of its lots and model homes sold off at auction to pay company debts. The company, which has been in business for 22 years, has been saddled with more than two dozen lawsuits in the past year.
Susquehanna Bank foreclosed on 30 homes and lots in the Scot's Glen development near Columbia and held an auction April 14 through auctioneer GoIndustry DoveBid, though none of the bids were accepted. American Auction & Appraisal, on behalf of Columbia Bank, sold five model homes in Scot's Glen and seven lots available in Highland Overlook, near Columbia, in April, according to the auctioneer.
Another auction -- for 31 finished lots at the company's Hopkins Choice development in Glenelg -- is scheduled Aug. 17 to pay off a roughly $10 million in debt, according to a posting by Alex Cooper Auctioneers and court records.
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