Regency Windows Inc. of Twinsburg said Thursday it has closed for good and its assets are under the control of its lender, a bank in Charlotte, N.C.
Cleveland attorney Roger Stewart, who has been representing Regency, said Thursday that Regency was unable to pay off a loan due Dec. 1, and Roynat Business Capital Inc. declined to renew Regency’s line of credit.
Regency — shut down since mid-January — had been in talks over the last several weeks with Roynat to advance it more money or bring in outside investors.
Stewart said Thursday that the negotiations have ended with Roynat taking control of the assets, resulting in a permanent shutdown of the company.
Regency was a replacement-window installer that would buy windows from other companies. Stewart said Thursday that consumers should direct their concerns to the Consumer Protection Section of the Ohio attorney general’s office.
Many customers already have called the attorney general’s office, as well as Better Business Bureaus in Akron and Cleveland with concerns about warranties, as well as deposits put down on undelivered windows.
Michael Merlitti, a public information officer for Attorney General Michael DeWine’s office, encouraged consumers to file complaints. Call 800-282-0515 or go online to ohioattorneygeneral.gov/ConsumerComplaint.
Merlitti said Thursday the attorney general’s office has logged nearly 70 complaints about the company, with most of them received in the past few weeks. Merlitti could not provide a breakdown on how many involved the status of warranties and how many concerned deposits.
Merlitti said the attoney general’s office does not disclose investigation details of companies.
Stewart, the Regency attorney, said other inquiries should be directed to Max Chaudhry, managing director, Roynat Business Capital, 525 Tryon St., Suite 1600, Charlotte, N.C. 28202.
Katie Byard can be reached at 330-996-3781 or kbyard@thebeaconjournal.com.
