Nebraska Hearthstone Home To Be Sold In Piece

Dave

KingDick
Staff member
Good riddance to bad rubbish....

Bankrupt HearthStone to be sold in pieces

From 600 land lots to a Spider-Man bedroom set, HearthStone Homes — once Omaha's top builder of new houses — is to be sold off in pieces.​
Proceeds from all sales ultimately would be distributed to entities owed money by HearthStone, including Wells Fargo Bank and multiple subcontractors and suppliers.​
Discussions continue with at least one party interested in buying the most valuable chunks of the bankrupt homebuilder: the lots and 40 houses under construction. If that happens, there is a chance the HearthStone business model could resurrect in some smaller fashion.​
But for now, the court-appointed trustee presiding over the Chapter 11 reorganization wants to unload all property leases that are costing money the indebted company does not have. So the contents in those places will be the first to go.​
Trustee Randel Lewis has recommended selling all furnishings in the HearthStone corporate offices at 810 N. 96th St. to the Lincoln-based Legacy Homes LLC for about $50,000. Included in that transaction will be office equipment and contents of the Choice Studio, the showroom where new homebuyers used to pick out appliances, flooring and certain other finishes.​
In addition, Legacy is to assume a $155,000 debt owed to the landlord for past rent on the corporate offices, according to court records.​
Legacy officials were unavailable for comment Wednesday. But Lewis and others have said the builder is interested in buying the larger HearthStone assets as well.​
Operations at the HearthStone headquarters virtually ceased with the Feb. 24 Chapter 11 bankruptcy filing. The monthly lease payment there is $43,946. “At a tune of $43,000 for monthly rent, I need to move on that,” Lewis said.​
 
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