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WL Homes, which also does business as John Laing Homes, filed for bankruptcy protection from creditors with plans to focus on luxury developments in Southern California.
The 161-year-old homebuilder blamed its filing on the collapse of the real-estate market, saying its sales last year had fallen by about half from 2007. The company listed assets of more than $1 billion and debt of $500 million to $1 billion in Chapter 11 documents filed Thursday in U.S. Bankruptcy Court in Wilmington, Del.
The Irvine, Calif., company did business in Colorado and was among builders in Denver’s Stapleton development.
