Famed builder Levitt and Sons files for bankruptcy
Levitt and Sons of Fort Lauderdale on Friday became the nation's largest builder to file for bankruptcy as the housing market continues to crumble.
The storied company filed for Chapter 11 protection from its creditors in U.S. Bankruptcy Court in Broward County. It lists assets of less than $1 million and debts of more than $100 million.
Levitt and Sons said it will explore the sale of some or all of its assets, including land and unsold homes, to repay creditors.
