Precast stone wall manufacturer files bankruptcy petition - Triangle Business Journal:

ysynut.wordpress.com
that manufactures precast stone walls has filed for Chaptet 11bankruptcy protection. Stone Cast, located at 51 Boulevard, has $564,000 in debts and less than $50,000o in assets, according to a petitionn filed June 29in U.S. Bankruptcy Couryt in Albany. The company has a $289,00p0 mortgage with and a $275,0009 mortgage with the , according to the petition . Compang president Terry Karanikas couldn’t be reached for The company’s telephone has been temporarily “They’ve suspended business activitiew on the production oftheir walls,” Warren County Planningg Director Patricia Tatich said. She said the company has been in businessw sinceabout 2000.
A coupl of years after it was started, the Warremn County LDC provideda loan. In turn, Stone Cast was suppose to grow to15 employees. The company had some success, but also ran into problemsd with work it was doing for customers in NewYork City. “They liked his product but breaking into the markett down therewas difficult,” Tatich said. The attorney who filed the bankruptcy petition, Michael J. Toomey in Glens couldn’t be reached for comment.