Yesterday, The LA times reported that Michelle Kaufmann Designs is closing.
Green prefab architecture firm Michelle Kaufmann Designs is calling it quits, a victim of the credit crisis and broader woes in the economy. In a letter sent over Memorial Day weekend, Kaufmann told clients the firm would close by the end of this week. She confirmed the news in a phone interview Tuesday afternoon.
Kaufmann sold the factory last year and in November trimmed the size of her Oakland office to 17. She thought those moves would help see the firm through the recession. But two factories MKD worked with have gone out of business since then, and clients and potential clients have found it almost impossible to get financing.
"Being a small company without significant reserves, that was more head wind than we could bear," she said.
According to the article, she will continue working as a consultant. We wish her luck in her future endeavors.
There's more details in the article, and we expect additional discussion across the industry.
Author: Christopher Hawthorne
Publication: Los Angeles Times
Length: 698 words
Date: May 26, 2009
Hat tip: Jetson Green on May 26, 2009.