Monday, June 24, 2013

Troubling Times in the Modular Home Kingdom

Over the weekend I received several emails from very reliable people that told me things are not going well for some factories in the modular home industry.

First, ProBuilt produced their last home about a week ago and from everything I've learned, Dick Schmidt, the owner of ProBuilt, is closing the doors on what was once was one of the top modular home producers in the Northeast.  If true, we're all sorry to see this brand gone. Their website is down.

Irontown Homes in Utah
Another factory that is rumored to have filed bankruptcy last week is Irontown Homes in Utah. Although never a major player in the modular industry, they build some of the nicest and greenest homes in the west.  There has been no immediate confirmation from Irontown Homes but I will update you as information comes in.


Anonymous said...

This is the exact opposite of what is happening with Blu Homes according to their executives. Is it possible that the market is so inelastic that the increase in Blu sales is forcing other factories to close?!?!?

I heard that Blu has a major financing underway so their investors must have looked at this issue, right?

Anonymous said...

Irontown has not filed bankruptcy. They are however looking for new investors...

Anonymous said...

Irontown avoided filing bankruptcy by convincing Ken Brailsford to purchase the floundering mismanaged company. The previous owner and management left many a sub-contractor, supplier and employees out to dry.
If any of the previous management are still associated with the company in any way... Don't walk, RUN from Irontown.