Rumor Mill: Wensmann Homes Shut Down?

by Alex Stenback on November 11, 2008

We'll file this in the un-substantiated rumor bin for now, but Wensmann Homes has apparently ceased operations as of last Friday, a tipster reports.

We've managed to confirm the Star-tribune is working on a story, so there's definitely some sort of fire beneath the smoke. 

What's unclear as we write this is whether Wensmann has indeed shuttered, or filed bankruptcy, or in some other version of operational life support, or they've simply hit a rough patch and will continue operations in some form.

Wensmann homes, founded in 1968, was the 12th largest builder (by revenue) in the Twin Cities as recently as 2005.

Anyone with specific knowledge of the situation, drop us a line: alex [a] alexstenback.com

{ 7 comments… read them below or add one }

Diesel November 12, 2008 at 11:01 am

There is definitely something going on. My mom lives in one of their new condos and they let go of the people that were working the sales office there. They also disconnected their office phones. They haven’t commented yet to the residents even though the residents have sent emails to the Wensmanns. Wait and see.

MARK HANSEN November 12, 2008 at 3:42 pm

UPON HEARING THIS RUMOR I STOPPED BY THEIR EAGAN HEADQUARTERS AND IT WAS ALL LOCKED UP, I ALSO STOPPED BY THEIR APPLE VALLEY MIDTOWN PROJECT AND THE SALES OFFICE WAS CLOSED AND THE PROJECT FOREMAN TRAILOR WAS DARK, SOMETHING IS UP PLEASE CONFIRM.

Katie Hammond November 13, 2008 at 11:24 am

Where is the bail out for builders?? Our Minnesota builders employed thousands of people. They expanded their operations during the boom not because of greed because they wanted to stay in business. Our builders did not want the metro area to be only DR HORTON, Pulte, or Centex like you see in every other state. This market correction is taking everyone down with it. It is very sad.

Katie Hammond November 13, 2008 at 11:27 am

Where is the bail out for builders?? Our Minnesota builders employed thousands of people. They expanded their operations during the boom not because of greed because they wanted to stay in business. Our builders did not want the metro area to be only DR HORTON, Pulte, or Centex like you see in every other state. This market correction is taking everyone down with it. It is very sad.

tom November 13, 2008 at 4:06 pm

They are under. It will be made official tomorrow, Friday

Diesel November 18, 2008 at 8:40 am

heard more news that they are trying to stay afloat by working an agreement with the banks and a person working at no pay to run the condo associations that they are still responsible for…lets hope they can make it thru this and come out on top.

Tipton Rubernol May 19, 2009 at 7:55 pm

It would appear that the doors to the main site are still closed. There also appears to be a \For Lease\ banner on the main sign outside the building that once housed their office. Wensmann was a quality company with great people.

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