Sacramento industry dealing with major closure.(MAKING NEWS)

The abrupt closure of Aquarius Pools in Sacramento, Calif., has had a ripple effect on the local pool industry.

In mid-August, the builder shut its doors, leaving more than 60 pools unfinished and several subcontractors owed money for services already performed.

The majority owners, along with the California Contractors State License Board, local industry leaders, subcontractors and homeowners are all scrambling to sort out what happened.

At a press conference, majority owners Richard Carnation and Kevin Towle said they had no idea Aquarius Pools was in trouble.

"We weren't aware of the improper business practices that resulted in the closure. We find ourselves victims along with the customers and Aquarius subcontractors," Carnation said. "All our investment seems to be lost."

Carnation said that he and Towle, who also own Waterworks Industries, a local commercial pool and waterfeature company, invested in Aquarius six years ago. They expected to sell the company in August to Greg Wolfe, general manager/responsible managing officer, and his wife, Theresa.

"[Wolfe] appeared to be doing all the right things," Carnation said. "The company was growing; he was getting press. There were benchmarks along the way, and he met every one of them. We heard nothing but good from everybody.