Modular construction firm Katerra files for bankruptcy

By Leila Steed09 June 2021

US tech-enabled construction company Katerra has filed for bankruptcy protection, after struggling to cope with the “macroeconomic effects” of the pandemic and the “unexpected insolvency proceedings” of its former lender.

The California-based firm - which aims to “transform the construction industry” using a fully-integrated approach to mass timber design, production, engineering, distribution and construction services - said the “rapid deterioration” of its financial stability was the cumulative result of it being unable to secure both new business and additional funding, following the collapse of its lender.

With offices across North America, operations in China, India and the Middle East and 8,000 employees globally, Katerra opted to “voluntarily filed for relief under Chapter 11 of the US Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas”, in order to help protect itself...Sign in to continue reading.

Marc Liebman, Chief Transformation Officer, said, “While a number of negative factors have led to Katerra’s current challenges, we are implementing initiatives on multiple fronts to maximize value and provide the best path forward for Katerra and its many stakeholders.”

Please login to continue reading!

Once you login you will receive unlimited access to InternationalRentalNews.com

  • FREE high value digital reports
  • Presentations from KHL events
  • Videos and magazine archive
  • Subscribe to magazines
  • Register for e-newsletters
  • Webinar recordings

Don’t miss out on the latest information!

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Almacrawler opens UK subsidiary
Almac Atlantic is set to provide a central sales and service offering, plus direct parts availability 
European companies: please complete the Q2 ERA/IRN RentalTracker survey
Companies involved in Europe’s equipment rental sector are invited to complete the short business confidence survey
CTE Lift launches compact truck mount
New MP 24 C truck mount joins the MP 32.19 model as part of manufacturer’s Multipurpose range  
CONNECT WITH THE TEAM
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail: murray.pollok@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA