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The 30-year-old family-owned and –operated company, which has built 8,50o homes in Missouri and Illinois, is the third-largest home builded in the St. Louis area with fiscakl 2008 revenueof $58 million, according to Businessx Journal research. “We went out of bank compliancesa as of March 31 and our availability for cash advancex dried up and we ran out of ChiefExecutive J. Randall Mayer said. Mayer, who started the custom and inventory home-building company with his father in has laid off a dozen employees and says the companty has a skeleton crew of threeworkers left.
Like most of the area’ s other large homebuilders, Mayer Homes Mayer said the company will not file for bankruptcy but plans an organizedr closingat yet-to-be-determined date. The company’s homes are in St. Louiws County, St. Charles County, Jefferson County and parts of including the subdivisions of Kendal l Bluffsin Chesterfield, Grandview in Sunset Hills and The Enclavese at Cherry Hills in Wildwood. Mayer said he think s the company’s banks, including , will allow the companu to finish up homes that are in the procesz ofbeing built.
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