THP Shutdown: Company owner talks

April 23, 2009 9:23:26 PM PDT
With incomplete homes dotting the landscape, the founder of the development company has come forward today to say he's not throwing in the trowel. THP founder Todd Hendricks said he is sorry for the pain that has been caused, he is negotiating with 20 different banks to try to get back to work as soon as possible, but when pressed, he would not tell Action News how much money his company needed to do that.

Hendricks said he does not know how much money his company needs to survive, nor can he say how many would-be homes are unfinished or what will happen to those folks who gave his company money and are waiting for a home.

John Clancy, one of those folks, asked his own question.

"We're in limbo right now. You guys came in, you shut the doors, and we know nothing. We gave you $5,000 of our money about 3 months ago, and I want to know where it's at," Clancy said.

THP shut down earlier this week and has left a trail of questions, unpaid bills and unfinished developments. Having watched unpaid subcontractors leave their development. THP condo owners found a note saying fire monitoring services and fire extinguishers would be removed soon.

"We are meeting tomorrow night to see what we can do to pay this bill," condo owner Dee Mitchell said.

THP had no specific answers for the condo owners or other THP residents.

Hendricks could only say, "We have fought long and hard to avoid this scenario and any suffering by anybody."

Hendricks said he trying to avoid bankruptcy, but conceded it is a possible option.

He said THP built 400 homes last year.

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