Struggling road builder in Citrus County, 19 US entrepreneur files for bankruptcy
âDAB was the only female-owned prime contractor in the state. “
DAB manufacturers, which abandoned $ 250 million in national and local road projects when it suddenly closed in July, announced on Tuesday that it had filed for Chapter 7 bankruptcy.
The Inglis-based road builder had been in business for 33 years, the chairman of the company Debora Bachschmidt said in a statement.
Its closure has left 400 people, many of whom live in Citrus and surrounding counties, suddenly without work.
DAB was the contractor on the much-maligned $ 31.8 million 19 expansion project at Homosassa, which was over a year behind schedule when the company closed at the end of July.
The company also had similar scheduling issues with the Florida Department of Transportation on other state projects.
Two weeks before the ATM shutdown, FDOT defaulted the company for missed contractual deadlines and milestones on a $ 33 million exchange project on Interstate 75 and State Road 56 in County of Not co.
At the time of its closing, DAB said it had self-funded $ 10 million in unreimbursed costs on the US 19 expansion project in Homosassa.
DAB blamed the default issue with FDOT as the reason for its financial downfall.
âDAB was the only female-owned prime contractor in the state,â Bachschmidt said. âOur small size and local workforce of over 400 dedicated employees has enabled DAB to fill a niche in the public sector construction space by delivering projects at significantly lower costs to taxpayers over time. years as competing companies while meeting the rigorous quality standards of FDOT and local government owners. However, the DAB could not continue to self-finance FDOT projects, nor wait for the outcome of formal âclaimâ legal actions which could take years. “
In recent years, the Bachschmidts had entrusted the business operations to their son, Foster Bachschmidt, notes the Tampa Bay Times. “State enterprise records indicate a change in corporate leadership on July 19, just after DOT declared DAB at fault on Pasco project: Foster Bachschmidt was removed from his post as vice president of operations and assistant secretary. “
FDOT works with DAB’s surety company to carry out state projects.