Local News

Raleigh developer files for bankruptcy

Posted October 6, 2009 4:20 p.m. EDT

— Raleigh real estate developer Bassadour Butler & Eugene joined the list of recession victims Oct. 1. The firm filed for Chapter 7 bankruptcy, citing assets of up to $50,000 and liabilities of between $100,000 and $500,000.

Among its creditors, the firm lists utilities, Wake County government and retailers like Lowes and Office Depot.

The firm, based at 410 North Boylan Ave., has been in business since 1994. According to its Web site, Bassadour Butler & Eugene specializes in "property location, financial analysis, ground-up construction and resale properties."