Robert K. Bowers of Finksburg is continuing to operate his construction business even though he filed for bankruptcy last month, his lawyer said.
Bowers, owner of RKB Homes Inc., filed to reorganize his business under Chapter 11 of the U.S. Bankruptcy Code on April 15.
Creditors will meet for the first time Wednesday at U.S. Bankruptcy Court in Baltimore.
Bowers' attorney, Robert L. Fila of Columbia, Howard County, said Bowers builds homes in Carroll County and southern Pennsylvania.
"Unfortunately, he is a sign of the times. He has a very nice product, but nobody's buying it," Fila said.
Bowersis building the Thorobred Knoll development off Reese Road in Finksburg. Home prices range from $350,000 to $450,000, Fila said. The development has eight lots, and two homes have been built, he said. One home is sold, the other is under contract, he said.
Other homes Bowers has built were in the $110,000 to $120,000 range, Fila said.
The company has 30 creditors.
Court records list company assets at $1,105,900 and liabilities at $1,079,837.
RKB has four employees and was incorporated in 1987, Fila said.
Under Chapter 11, the court assists a company in restructuring its debt and repaying creditors.