Reid Built Homes, a company that has built homes in southern Alberta communities including Airdrie, Cochrane, Calgary, Chestermere, Strathmore and Crossfield has sent a letter to contractors telling them it doesn't have enough money to cover unpaid bills.  

In the letter, unsigned but with the names Lisa Reid-Parker, President and COO and Greg Pollard, Vice President of Finance on it, Reid Built says because of, what it calls, "difficult economic conditions in Alberta" it's been forced to consider asset sales, joint ventures and financing.

The letter goes on to say that most of the recipients "have unpaid invoices for work previously provided" but, "unfortunately the company does not currently have the funding to repay these outstanding liabilies."

The letter then asks contractors to finish homes that are in the midst of construction so that homebuilders can sell the properties and recover the most amount of money possible, "for all of our trade creditors."  Reid Built says it will commit to paying for any new work on a go forward basis."

One contractor says, basically, the company is asking them to work for free.

In an interview October 6th, Dave Abbey, Sales and Marketing Manager in the Reid Built Calgary office denied that the company was in financial trouble and said that the parent company in Edmonton had put the Calgary office up for sale.  He said at that time that any home owners would still be protected under the Alberta New Home Warranty program. 

Now, contractors who are owed money by Reid Built have placed liens on homes in many communities.

The contractor we spoke with, who wishes to remain anonymous, said he is owed about $70,000 for landscaping work done on about 20 homes for Reid Built.  "I have about $30,000 in costs for plants and material as well," he said.  "I'm trying to decide if it's even worth it to talk to a lawyer."

Reid Built showhomes in Airdrie are closed.  A sign on the door says they are closed, "temporarily."  Discover Airdrie also reached out to President and COO Lisa Reid-Parker for an interview but she did not return our email. 

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