Maietta Construction of Scarborough files for bankruptcy protection
SCARBOROUGH — Maietta Construction has filed for Chapter 11 bankruptcy protection at U.S. Bankruptcy Court in Portland.
The family owned company has been in the construction business in Scarborough for more than 40 years. According to a press release Thursday, it was hit hard by the recent economic recession.
The company said fuel costs and decreased demand for construction projects were the cause of its financial problems.
Maietta is known in the industry for its work in excavation, site-clearing, road construction, drainage, sewer construction, road grading and snow plowing.
The company said it hopes to restructure its debts and address its expenses in an effort to return to profitability as quickly as possible.