Bay Area-based Kelly-Moore Paints suddenly announced it would go out of business on Friday.
It plans to close all of its retail stores. There are 61 Kelly-Moore Paints locations in the Bay Area, including two stores in Oakland, Concord, Fremont, Mountain View, San Mateo and Santa Clara, according to the company’s website.
“All of the company’s facilities (other than the Union City distribution center) will be permanently closed effective immediately, including the Kelly Moore manufacturing facility in Texas and its retail stores,” the company said in a prepared statement.
Kelly-Moore Paints was founded in San Carlos in 1946. It was purchased by a new owner in 2022.
The company was looking for investment to continue operations, but failed to obtain financing.
It blames its collapse on more than three decades of lawsuits related to the old owner’s use of asbestos in Kelly Moore products.