The troubled Citrus County road builder, a US construction company, files for bankruptcy

0


[ad_1]

“DAB was the only remaining female-owned prime contractor in the state.”

DAB Constructors, who had given up $ 250 million in state and local highway projects when they suddenly shut down in July, announced Tuesday that they have filed for Chapter 7 bankruptcy.

The road builder based in Inglis has been in the business for 33 years and is president of the company Debora Bachschmidt said in a statement.

Its closure left 400 people, many of whom lived in Citrus and surrounding counties, suddenly without work.

DAB was the contractor for the much maligned $ 31.8 million 19 expansion project in Homosassa, which fell more than a year behind schedule when the store closed in late July.

The company had similar scheduling issues with the Florida Department of Transportation on other government projects.

Two weeks before DAB closes, FDOT has given the company a default on missing deadlines and contract milestones on a $ 33 million intersection project on Interstate 75 and State Road 56 in Pasco County.

At the time of closing, DAB said it had self-funded $ 10 million in non-reimbursed costs for the Homosassa expansion project in the U.S. 19.

DAB blamed the failure problem with FDOT as the reason for its financial decline.

“DAB was the only remaining female-owned prime contractor in the country,” said Bachschmidt. “Our small size and local workforce of more than 400 dedicated employees have enabled DAB to fill a niche in the public sector construction sector by delivering projects to taxpayers over the years at significantly lower costs than competing companies while providing the Meets demanding quality standards of FDOT and local state owners. However, DAB could neither continue to finance FDOT projects nor await the outcome of formal “claims” court proceedings, which could take years. “

FDOT is working with DAB’s bonding company to complete the state projects.


Post views:
594

[ad_2]

Share.

Leave A Reply