Masonite of Laurel to file for bankruptcy

LAUREL, MS (WDAM) - The sluggish housing market has forced Laurel's Masonite International Company to file for bankruptcy.

The company announced this week it will be filing chapter 11 bankruptcy to reorganize its debts.

Kekst and Company out of New York issued a statement on behalf of the company stating the once billion-dollar company is now reconstructing how it does business.

Kekst and Company said in a prepared statement, "Masonite fully expects to continue to operate in the normal course of business during the restructuring process."