Oklahoma City, OK – Slowing home sales and tighter credit markets have forced a prominent Oklahoma City home builder out of business and threatens another.
Bridgeport Development has shut down operations and Bridgeport officials Jim Meyer says he's working with lenders, subcontractors and suppliers to sell homes Bridgeport has on the market.
And homebuilder Brass Brick Homes has cut staff, reorganized and is working with lenders to restructure its debt.
Brass Brick president Ashley Christofferson-Cunningham says the company is in a cash-flow crunch but is not filing bankruptcy.
Christofferson-Cunningham says the builders have been spoiled and Oklahoma City has been in denial.