MINOT, ND ( KXNET ) — A North Dakota-based real estate investment company could soon be in some hot water financially.

According to some of its investors and employees, EPIC Companies has shut down some ‘in progress’ properties throughout the state.

According to the website , EPIC Companies is a real estate investing and development firm based out of West Fargo, they focus on developing commercial rentals with office and retail space, industrial rentals, and multi-family spaces. EPIC Companies has several properties throughout the state including Bismarck and Minot.

Someone close to the situation tells KX News that people within the company have been laid off and some contractors have not been paid.

In Minot specifically, EPIC Companies also manages the Norsk Høstfest , is redeveloping the Midwest Federal Building , known as the ‘Big M’ building downtown, and is currently building a new development called, ‘The Tracks’ on the southwest side of town.

According to an employee currently working on the Minot projects, EPIC leaders put a stop to the construction of the Big M building last week but sent contractors to work on The Tracks project.

The employee also says they were told to keep working until they hear otherwise, but it is possible that the construction on The Tracks project could also stop sometime next week.

The Norsk Høstfest is also calling a press conference relating to the matter on Wednesday, May 29. It’s unclear at this time the specifics of the financial issues, or what direct effect it will have on the Høstfest.

But what we do know, is that two of the previously scheduled acts, for this year, Trace Adkins and Ryan Bingham , do not show a concert date for the Høstfest on their personal websites at this time. It’s unclear if the concert dates were ever listed on their personal websites though.

We also know that the EPIC Offices in Fargo are currently by appointment only and that the President of EPIC, Todd Berning, is said to have had a medical emergency recently.

KX News has reached out to EPIC directly, as well as to those who run the Høstfest and the Attorney General’s office. We have not yet heard back from anyone.

This is a developing story. We will bring you updates as they come. KX News also plans on attending that press conference next Wednesday.

Thanks for signing up!

Watch for us in your inbox.

Subscribe Now

Today's Top Stories

For the latest news, weather, sports, and streaming video, head to KX NEWS.