Charlevoix Homes files for bankruptcy

Charlevoix Homes, a Scottsdale, Ariz.-based home builder, has filed for Chapter 7 bankruptcy, according to a report in the Arizona Republic.

The home builder listed up to $50 million in liabilities to its creditors.

The business is the target of lawsuits by several investors, including real estate agents and private investors. It was founded in 2002, building homes in Phoenix and Glendale, Ariz., and the surrounding suburbs.

Other Arizona companies related to housing have filed for bankruptcy this year, including Gilbert, Ariz.-based Trend Homes, as well as separate entities set up by Charlevoix, including a development called Meridian Hills in south Phoenix.