Construction startup Katerra files for bankruptcy

The company blamed its financial position on the effects of the COVID-19 pandemic, difficulty securing funding for new construction and “unsuccessful attempts to secure additional capital and business.” Katerra filed for bankruptcy protection Sunday as it moves to shut down most of its U.S. operations and shift its focus to international business. The once-promising Silicon … Read more

SoftBank-backed construction startup shutters US operations

Following a final $200 million investment from SoftBank, Katerra is closing after years of financial mismanagement and rising construction costs. After six years and more than $2 billion in funding, multifamily construction company Katerra is shutting down its U.S. operations. First reported by The Information on Tuesday, the SoftBank-backed company long struggled with financial management, which was … Read more

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