Bankruptcy Stalls Jacksonville Bridge Project

Bankruptcy stalls work on a new bridge under construction a major highway in Jacksonville.

The D.O.T. says the contractor for the new Buddy Phillips Bridge has temporarily suspended work while they work to restructure their company. Intercoastal Contracting, Inc. of Castle Hayne filed for Chapter 11 Bankruptcy in late August.

Highway officials say the bridge over the New River on Highway 17 is 20% ahead of schedule and they will work with the bonding company to find a replacement contractor if Intercoastal is unable to continue work.

The state remains confident that the $11.8 million project can still be completed by this coming July, despite the delay.

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