Skymark Homes, one of the province’s largest real estate and development companies, looks to restructure.
Jonny Hodder and Mike Moore
It looks like the housing bubble has burst for Skymark Homes.
The St. John’s company has filed for creditor protection as it tries to restructure. In January, the Nova Scotia subsidiary of Skymark filed for insolvency.
Skymark is responsible for overseeing major land developments in St. John’s and Mount Pearl such as Southlands, Quidi Vidi Village and Brookfield Plains. According to the company’s website, they build more than 100 homes each year in the area.
Skymark Homes is part of the parent company Future Group which also includes Skymark Renovations, Skymark Contracting, Acerage Investments, 10804 Newfoundland Ltd., and Equity Capital Corp.
Craig Williams is the company’s director. At one point, the company employed 100 people and logged more than $60 million in yearly sales.
Kicker has made several attempts to contact representatives from Skymark Homes, but received no response.