Raleigh developer goes bankrupt

STAFF WRITEROctober 7, 2009 

Bassadour Butler & Eugene, a Raleigh-based real estate development company, filed for Chapter 7 bankruptcy last week.

The company joins a growing list of local real estate firms that have run into trouble since lenders tightened standards and the pace of new construction slowed.

In February, Mammoth Grading of Raleigh and Fowler Contracting of Cary declared bankruptcy. Last month, Durham-based Mainline Contracting filed for Chapter 11.

BB&E started in 1994. The company provides design, construction and consulting services to residential and commercial projects.

Calls on Tuesday to the company's Boylan Avenue office were not returned.

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