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Another Prefab Builder Hit

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Ach. Massachusetts-based Empyrean International, which had partnered with Dwell magazine as well as other companies to build prefab homes, has shut down, according to Luxist (via the Boston Globe). "The owner of Empyrean, Patrick Gilrane, blames the failure of Lehman Brothers as well as the weakening economy for the closure. He had hoped to restructure and reopen the company next year but the home builder has defaulted on a $7 million loan and has not paid its utility bills or taxes for months. The Boston Globe reports that the receiver, attorney Stewart Grossman plans to put the company up for sale once he puts its affairs in order." Last October, Modtech Holdings, a prefab builder that had worked with LivingHomes, filed Chapter 11. [Luxist.com]