Morrison Knudsen Continues To Struggle

In the year since Morrison Knudsen Corp. ousted William Agee as chairman, the company that built the Golden Gate Bridge and Grand Coulee dam remains under a mountain of debt.

Morrison Knudsen disclosed this week that several New York-based investors had bought most of the $231 million it has in outstanding loans and is required to repay by year’s end.

Whether those investors will allow the company to continue restructuring in a bid to survive is unclear.

Morrison Knudsen spokesman Brent Brandon said the group appears “to have the long-term interest of MK as an ongoing franchise.”

On Friday, Brandon said that the Boise-based company’s recapitalization, “while in its early stages, is clearly on track.”

He said that “all of the options under consideration include plans to continue providing world-class engineering and construction services to our clients.”