Back from bankruptcy

Legend Homes, one of Portland’s largest building companies, is emerging from bankruptcy after two years.

Share this article!

Major Portland builder Legend Homes is out of bankruptcy after two years, emerging a smaller, but intact, company.

Legend entered bankruptcy in 2008 when housing demand slackened. The company had borrowed heavily to purchase properties in the Pacific Northwest.

From a peak of 75 employees, Legend now has 26. Revenues are projected to hit $16 million this year compared to $136 million during the housing zenith of 2006…

Legend retained five subdivisions in Tigard, Wilsonville, Hillsboro, Vancouver, and Corvallis. Between them, the subdivisions have about 500 lots ready for construction, [Legend’s president and CEO Jim Chapman] said.

Read the whole story at

{biztweet}Legend Homes bankrupt{/biztweet}

Latest from Oregon Business Team