MOBILE, AL — McPhillips Mfg. Co. Inc., a 90-year-old custom doormaker, on Feb. 2 announced it will close its doors later this year, the latest local casualty of the housing crunch, according to the Press-Register. The company announced 50 layoffs last week, cutting its workforce to 25, and is finishing the rest of its orders and selling off its inventory, winding down its business within five months.
“It's just kind of like a light switch went off in the U.S. housing market,” said Chairman J. Manning McPhillips. “It still hasn't found a bottom yet.”
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