Contractors Put A Lien on KBM Bldg.(Kyle Busch)

This from the Charlotte Observer:

A subcontractor who helped build NASCAR driver Kyle Busch’s new multi-million-dollar headquarters has filed a lien against the project, and four others also say they’re owed money. Collectively, the contractors say they are owed hundreds of thousands of dollars by the building’s owner and general contractor.

As small business owners, they said, they can’t afford to go for months without being paid. Paul Davis of Creative Carpets LLC said he filed a mechanic’s lien against the general contractor Friday. Davis said he is owed $60,000 for installing roughly 18,000 square feet of carpet and flooring. “As a business, I can’t function,” he said, adding his suppliers won’t give him more materials until he pays them. “I’m spending more of my time chasing my money than making it. And in this economy, I can’t do that.” Davis said he filed the lien because he’d grown worried that he might not get paid the full amount he is owed. He said Busch’s attorney told him “one group was going to walk away unhappy.”

The building is owned by L.B. Builders Construction Group, which also is overseeing construction. It is being built for KB Investments, a Kyle Busch-related entity. The subcontractors said they’ve been told by L.B. Builders that they haven’t been paid because Kyle Busch owes nearly $3 million. On Friday, a blue tarp was taped over a sign outside the building that says KBM. Attorneys representing Busch and L.B. Builders confirmed a “construction dispute” over the building’s cost, and said the groups are working to resolve it. A meeting to discuss the issue is set for mid-May, they said.

How could ol Kylie have gotten himself into this financial bind? Do you think that someone is not minding the store?  Do you think that it is time to fire the account, whom ever he might be?


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