The company was founded in San Carlos in 1946 by William Kelly and William Moore.
SAN FRANCISCO (KGO) -- Kelly-Moore Paints has announced it will immediately cease operations and will close all of its stores.
The announcement comes after Kelly-Moore decided to furlough 700 workers.
The company says it's simply out of money.
All of Kelly-Moore's 157 stores are closed immediately.
The paint-maker has been saddled with decades of lawsuits stemming from the use of asbestos in cement and texture products.
The company was founded in San Carlos, Calif. in 1946 by William Kelly and William Moore.
"As the leading independent paint company in the U.S., we are big enough to rely on, yet with a relationship culture of care. We are neither mom and pop, nor big box. We are in the business of enabling great painting experience providing high quality, innovative products with exceptional service, and by going above and beyond for every customer," the company wrote on its website.
The company will maintain slim operations at its Union City distribution facility to try to fill existing orders.
Kelly Moore has more than 60 stores in the Bay Area.
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