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Thursday, November 20, 2008

Cary developer in Chapter 11

Posted by on Thu, Nov 20, 2008 at 2:59 PM

We all know the real estate market is in bad shape, but this is a pretty serious indicator of how bad: MacGregor Development, which built the quintessential Cary golf-course communities of MacGregor Downs and Lochmere, is in bankruptcy, Triangle Business Journal reports. The company was founded in the 1960s and has survived one bankruptcy in the early 1990s.

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