Homebuilder THP files for bankruptcy

May 1, 2009 10:11:07 AM PDT
Local homebuilder TH Properties has filed for bankruptcy. The Chapter 11 filing indicates the Montgomery County developer is more than $10 million in debt.

Three companies affiliated with TH Properties have also filed for bankruptcy.

Todd Hendricks owned the company with his brother Timothy.

Todd Hendricks said in a news release that this is the only way the company can try to repay creditors, and deliver homes promised to buyers.

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