Banning Lewis bankruptcy leads to layoffs
Operations for Banning Lewis Ranch LLC have virtually ground to a halt in the wake of its October bankruptcy filing.
With more than $242 million in debt, the Newport Beach, Calif.-based company has had to lay off most of its work force.
“We’re down to two people in California and two in Colorado – kind of a skeleton crew”, said Banning Lewis CFO Steve Spelman in a recent interview with John Hazelhurst.
Read more CSBJ coverage of the Banning Lewis bankruptcy here.
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