Banning Lewis bankruptcy leads to layoffs

Filed under: Daily News |

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.