Century-Old Pennsylvania Lumber Company Closes Its Doors
DONORA, Pa. (AP) - A Pennsylvania lumber company that's more than a century old has closed its doors amid financial problems.
The (Uniontown) Herald-Standard reports that attorney Richard Schimizzi said he filed for Chapter Seven bankruptcy on behalf of Donora Lumber. The business closed Jan. 15.
The filing indicates that the company has as many as 49 creditors and up to $50,000 in assets and liabilities.
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Schimizzi says the building isn't technically for sale, but it could be sold if the bankruptcy trustee thinks that selling it would raise enough capital to pay the liabilities and if a buyer is identified.
The business was formed by five men in July 1900, according to records.
Company President Vic Fioravanti did not immediately return messages left at his home seeking comment.
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