SECU seeks new contractor for Nags Head

The State Employees Credit Union is looking for another contractor to finish building its new branch at the Food Lion shopping center at milepost 10.5 in Nags Head.

No evidence of work could be seen at the site on the south end of the complex for several weeks. Tyrone Tyler, SECU’s district manager responsible for Dare County, said that the project’s general contractor had “gone out of business.”

A sign at the construction site shows Wynne Builders, LLC of Roanoke Rapids, NC as the general contractor.

State government construction jobs require the general contractor to post an insurance bond for the full amount of construction in the event the contractor fails to complete the job. Tyler said SECU is working with the bond company to hire a new contractor to finish the work.

Tyler said that he expects the contract to be awarded soon and that it will be about eight months before the office is completed and open for business.

General contractors in eastern North Carolina, both commercial and residential, have been under considerable financial stress since 2005 when new construction projects and bank loans to finance them ground to a halt.

 

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