Bob on Business: Village Homes emerges from Chapter 11 as it pops the cork on 30 years

Last October, Fort Worth homebuilder Village Homes filed for Chapter 11 reorganization when a major legal fight disrupted the company’s ability to do business. According to Village Homes, the issue stemmed from a 2024 contract to sell 100 vacant lots, the company name, and related intellectual property as part of a planned rebrand and retirement for one of the co-founder’s original partners. The proposed buyer failed to close and Village Homes terminated the contract. Village Homes has since filed a declaratory judgment lawsuit to confirm the termination. The buyer responded by countersuing and filing a pending lawsuit notice against each of the lots. That action impeded Village Homes operations and the filing was taken to preserve the value of the business as a going concern and continue operations, according to the company. In July, a federal bankruptcy judge approved the company’s Chapter 11 reorganization plan, allowing its operations to go forward. “Chapter 11 was not a path we wanted to take, but it became necessary to protect the business and the people who depend on us,” said Michael Dike, co-founder and president of Village Homes. “We defended the company throughout this process, and the court’s order bears out what we have maintained from the beginning — about the strength of Village Homes, the circumstances that forced us to seek Chapter 11 protection, and our ability to come through it successfully.” With the plan confirmed, the company has preserved its existing ownership and leadership, and restored its ability to operate without court oversight. Village Homes provided more details on the bankruptcy exit here. The company is marking its 30th anniversary this year, a milestone for Dike and his longtime business partner James R. Harris. Village Homes has built more than 1,500 homes across Fort Worth and Parker County. “We emerged with our company and our relationships intact — exactly as we said we intended to do from the start,” Dike said. “Now we can put our full focus back where it belongs: building homes, serving our communities, and carrying Village Homes’ 30-year legacy into the next generation.” It’s only a game Question: What’s the latest experiential attraction to open in Southlake? Answer: Game Show Studio, an immersive entertainment site where guests step into a Hollywood-style game show. This location, the 12th for the franchise, invited guests to “come on down” to Southlake on Sept. 12. Located at 280 Commerce St., Suite 285, Game Show Studio Southlake is designed for group celebrations, corporate parties and community members of all ages. Game Show Studio Southlake is located as well as owned and operated by Red Door Escape Room, an escape room venue with over 20 locations nationwide. TechFW graduate seeks FDA approval Nanoscope Therapeutics, a TechFW graduate headquartered in Dallas, has formally asked the U.S. Food and Drug Administration to approve Mogenry, a treatment for people who have lost most of their vision to retinitis pigmentosa. Also known as RP, the inherited eye disease slowly destroys the light-sensing cells in the retina, eventually causing severe vision loss or blindness. TechFW is a business incubator in Fort Worth. Mogenry works by using a harmless virus to deliver new genetic instructions into the eye, essentially teaching remaining eye cells to sense light in a new way — and restoring some ability to see. “This is a major step toward finally offering an approved treatment option to people with severe vision loss from RP,” said Sulagna Bhattacharya, the company’s CEO. She said the company is confident in the treatment, based on results so far, and looks forward to working with the FDA during the review process. Going country Fort Worth-based The Country Network, a television network dedicated to country music, entertainment and lifestyle programming, has entered a distribution agreement with Windsong Communications that adds four Gulf Coast markets to its over-the-air television footprint. The Country Network’s 24-hour programming feed has begun airing on Windsong stations in Houston, Beaumont, Corpus Christi and Lake Charles, Louisiana. The companies estimate the addition increases the network’s potential distribution by about 20%, pushing its programming to roughly 48 million more households. The Country Network will retain control of programming, advertising and sponsorship inventory under the deal. More on Shivers Farm We wrote recently about Fort Worth’s Trademark Property Company and Harrison Street Asset Management’s plans for the construction of Shivers Farm in Southlake that will bring the first Whole Foods Market to the area. These projects don’t happen without plenty of funding behind them and real estate-focused private equity firm Madison Realty Capital reached out to mention they originated a $77 million loan for the development. “Dallas-Fort Worth remains one of the most fundamentally sound and diverse markets in the country,” said Samir Tejpaul, managing director and head of investments at New York-based Madison Realty Capital. “Southlake is a particularly sought-after suburb in the metro, and Shivers Farm will deliver Southlake’s first Whole Foods while expanding its retail, office and residential offerings.” Do you have news for Bob on Business? Email business editor Bob Francis at bob.francis@fortworthreport.org. News decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.