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Ailing Omaha builder seeking new ownership

AP News
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Posted: Jan 30, 2012 11:22 AM
Ailing Omaha builder seeking new ownership

Omaha homebuilder is looking for new ownership as a way to remain in business.

HearthStone Homes has been sued by Wells Fargo Bank, which says HearthStone has defaulted on a $17.5 million loan.

HearthStone Vice President Scott Kinkaid says his company's woes stem from an economic slowdown that has made potential buyers a lot more cautious.

He says three investors are interested in buying the company, which is still building homes.