Lehr Construction files for Chapter 11

New York /
Feb.February 23, 2011 09:52 AM

New York City-based interior construction firm Lehr Construction has filed for Chapter 11 bankruptcy protection, citing difficult economic conditions and an ongoing investigation into corruption in the industry, according to Crain’s. Lehr, which has been around for 32 years, has completed projects for some of the city’s biggest real estate developers, including SL Green Realty and Tishman Speyer. In the late 1990s, Lehr’s owners pleaded guilty to bribery for their role in a bid-rigging scheme at 1540 Broadway, though the company escaped without charges as part of the plea agreement. But today, the Manhattan district attorney’s office is again investigating Lehr, as well as the interior construction industry as a whole, which has “made it difficult for the firm to attract and retain clients,” a company spokesperson said. Lehr had $18.5 million in unsecured claims as of Feb. 16, the filing said, with Capital One Bank and subcontractors Robert B. Samuels and Superior Acoustics among its top creditors. The company wouldn’t reveal its current client or project list. [Crain’s]


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