Architectural Traditions Closes Its Doors
April 29, 2014
Architectural Traditions, a door and hardware supplier based in Tuscon, Ariz., closed its doors suddenly this month due to "unforseen financial issues," leaving some customers out their deposits. According to the company website, Architectural Traditions "will not be able to complete any outstanding orders" and will not refund customer deposits for work to be completed "at this time."
Officials report the company is working with its "secured lender to liquidate the company. In the event there are any proceeds received from liquidation beyond the secured debt we will facilitate a pro-rata distribution to our creditors, although it is unlikely there will be remaining funds," they state on the site.
In an email statement to the local Arizona Daily Star, Architectural Traditions President Tom Liittschwager blamed the closure on the declining market for custom homes, stating the company would continue to "seek purchasers for all remaining assets.”