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The residential remodeling company told the department this montg that it has financial problems and is goinvg outof business. A check by the departmentg of Panelcraft's bank recorde showed a negative checkin gaccount balance. Panelcraft said it stopped takingy new jobson Aug. 1 and stilk has 235 customers with incomplete The company said that it wants to finish the but the commerce department said thecompany couldn't show it had sufficient money to fulfill the three-yead warranties the company promises in its Making things even more difficult for the department found that the companh doesn't have the required liability or compensation insurance.
That meansw that employees cannot do their work until the company obtainseproper coverage. Panelcraft had 10 employees when it shut down its operationxon Aug. 1. At its high poinf it employed about 100 The department of commerce nor the company addressed the sourcreof Panelcraft's financial problems. A hearing beforse an administrative law judge is scheduledfor Sept. 19.
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