Ehli Turners Auctions, at 1222 46th Ave. E in Fife, is closing its doors.
Owner Walter Woodward said recently that a combination of factors led to the decision, including a family illness and the tanking economy.
Woodward also said that he and his wife, Heidi, who co-own the business, believe some of the company’s funds were embezzled and that they’ve asked Fife Police to investigate.
A Fife police spokesman couldn’t be reached for comment Monday or Tuesday.
Woodward said the auction house has 41 employees, eight of whom were fulltime. He said the business would close by the end of 2008.
Ehli Turners was one of the state’s largest auctions, with more than 40,000 square feet of space.