"Under long-gone prior ownership, Kelly-Moore had used asbestos in cement and texture products. The paint retailer discontinued asbestos in its products in 1981. Even so, the company’s finances eventually buckled beneath a mountain of claims.
“Largely due to the asbestos litigation overhang, it was impossible to attract any additional funding or interest to recapitalize, restructure, or reorganize the business,” the company stated."
https://www.mercurynews.com/2024/01/12/kelly-moore-paint-store-retail-bankrupt-economy-job-layoff-real-estate/
“Largely due to the asbestos litigation overhang, it was impossible to attract any additional funding or interest to recapitalize, restructure, or reorganize the business,” the company stated."
https://www.mercurynews.com/2024/01/12/kelly-moore-paint-store-retail-bankrupt-economy-job-layoff-real-estate/