A Fort Collins, Colo.-based homebuilder facing a number of lawsuits has filed for chapter 7 bankruptcy, BusinessDen.com reported. Bluestone Homes of Colorado, which lists a Fort Collins P.O. box as its address, filed for bankruptcy Oct. 31. Terence Hoaglund founded Bluestone in 2009. According to its website, it designs and builds energy-efficient homes, with long-term goals of building “net-zero-energy homes.” In court filings, Bluestone Homes listed assets of $171,876 and said it owes $2.4 million to 52 creditors, including contractors and customers who put down deposits. Hoaglund, who signed the filings, claimed he is owed $43,405 for paying company debts on personal credit cards. The filings show revenue has dropped this year compared to years past. From January to the Oct. 31 filing date, Bluestone reported a loss of $528,000 on $780,000 in revenue. That compares to $2.7 million revenue reported last year and $6.4 million reported in 2021.
