September 4, 2009

WCI emerges from brankruptcy as a private company

WCI - The Bonita Springs based luxury homebuilder - has emerged from bankruptcy as a private company and eliminated $2 billions in debt.
“This is a great accomplishment,” President and CEO David Fry said in a statement. “Now that we have successfully completed our financial restructuring, emerging from Chapter 11 with a rational capital structure and a strong core portfolio, we look forward to implementing our business plan which has been designed to provide us a flexible foundation for operating in today’s real estate market, as well as future success.”
WCI is the developer of local golf communities as The Colony at Pelican Landing and Hammock Bay Golf Club.
Read the agency news full reports from Reuters, AP and the News-Press .

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