Towers of ilium was mildly annoyed, but not entirely surprised, to discover that Connor Homes closed its doors four months ago. The tale of their demise is a little too familiar--they were acquired by a New York equity firm that had inappropriate expansion goals. The new owners pulled the plug when they realized that their investments would never pay off.
Manufactured housing is a tough business. A firm can achieve only minor efficiencies compared to a site-built/stick-built contractor. The temptation to focus on quantity over quality can become impossible to resist. Connor seems to have had a niche business, but Wall Street ambitions doomed them.
Next up: Unity Homes