MacGregor Development seeks bankruptcy protection
Posted November 17, 2008 5:06 p.m. EST
Cary, N.C. — MacGregor Development Co., which designed and built the MacGregor Downs and Lochmere subdivisions in Cary, filed for Chapter 11 bankruptcy on Friday.
The developer listed $23.8 million in assets and $41.4 million in liabilities in its filing. The company generated $3 million in revenue through September, down from the $19.9 million it grossed last year, according to the filing.