“If you’re blaming all the contractor and subcontractor defaults lately on the recession and how thin times lead to management mistakes, such as chasing unprofitable work, here’s yet another concern. Business in some sectors is picking up enough or may pick up soon and could create perils from recovery risk.
Based in Farmers Branch, Texas, Trainor Glass shuttered its nine locations Feb. 22 and has made no public statements since then. Trainor was one of two major cladding fabricators and contractors to get into financial trouble this winter.?? The other was the default and temporary shutdown just before New Year’s Day of Whitestown, Ind.-based ASI Ltd., a principal subcontractor on the $825-million Barclays Center in Brooklyn, N.Y. That default delayed completion of the arena’s enclosure and forced extra effort by the prime contractor, Hunt Construction Group, to stay on track for scheduled completion later this year.”
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