Share this Story : Ashcroft's financial challenges leave local contractors unpaid Copy Link Email X Reddit Pinterest LinkedIn Tumblr Breadcrumb Trail Links News Local News Ashcroft's financial challenges leave local contractors unpaid The development firm has faced a cash crunch in recent years because of the combined effects of the COVID-19 pandemic, the increased price of materials, high borrowing costs and a downturn in the market for commercial leased space. Author of the article: Andrew Duffy Published Oct 28, 2024 • Last updated 32 minutes ago • 3 minute read Join the conversation You can save this article by registering for free here . Or sign-in if you have an account.
A Wednesday photo of the Ashcroft Homes Eastboro development that has been sent into receivership. Photo by Jean Levac / POSTMEDIA Article content Court and property records show Ashcroft Homes faces financial challenges that go beyond its Eastboro development, leaving many local contractors unpaid. Earlier this week, it was revealed that the development firm, founded by engineer-turned-entrepreneur David Choo, had lost control of its 200-acre Eastboro development, which had been sent into receivership.
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