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Finest Hearth Files for Bankrupcty 

Catherine Pegram

A woodstove and fireplace company in Maine is closing shop and selling off all of its assets.Finest Hearth and Homes filed for bankruptcy on Monday to liquidate the business. In June, the company sold two of its shops in Bangor and Augusta to another company. But it recently closed three stores in Portland, Yarmouth and Topsham. Court documents show the company’s gross sales dropped from $5 million in 2009 to $3.2 million last year. Right now the company owes more than $2 million but only has about half of that in assets.A lawyer for the firm handling the case says even though the company is liquidating, there’s still the possibility someone could come in and buy the business.