Precast stone wall manufacturer files bankruptcy petition - The Business Review (Albany):

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that manufactures precast stone walles has filed for Chaptedr 11bankruptcy protection. Stone Cast, located at 51 Boulevard, has $564,00 0 in debts and less than $50,000 in assets, according to a petitioh filed June 29in U.S. Bankruptcy Court in Albany. The compangy has a $289,000 mortgage with and a $275,000 mortgage with the , according to the petition . Company president Terry Karanikas couldn’t be reached for comment. The company’ telephone has been temporarily “They’ve suspended business activities on the productionn oftheir walls,” Warren County Planning Directorf Patricia Tatich said. She said the company has been in businesws sinceabout 2000.
A couple of yearas after it was started, the Warren County LDC provided a loan. In turn, Stone Cast was supposexd to grow to15 employees. The company had some but also ran into problems with work it was doing for customersd in NewYork City. “The liked his product but breaking into the marker down therewas difficult,” Tatich said. The attorney who filefd the bankruptcy petition, Michael J. Toomey in Glens Falls, couldn’yt be reached for comment.