With the refusal of U.S. District Court Judge John Bates to grant REsource Capital an temporary restraining order against SBA seizing its assets, the company has closed its doors.
“The vast majority of employees have been laid off,” said company spokesman Doug Elmets.
REsource employed about 60 workers.
Writes the Sacramento Bee, “In his ruling, the judge said REsource already had plenty of chances to show that it was financially sound. He noted the SBA has been investigating the company for nearly two years.”