YARMOUTH — A bank is liquidating the assets of Maine Cottage, an upscale furniture company that got its start in 1988.

Maine Cottage ceased operations and closed it stores in Yarmouth, Charleston, S.C., and West Palm Beach, Fla., in recent weeks.

KeyBank, which has a lien on all the assets, is in the process of liquidating the assets, said Jacob Manheimer, a Pierce Atwood lawyer representing the bank.

Manheimer said the bank will surrender items to customers who paid in full for them and can identify the item with a purchase order or through other means – if the item is on hand.

“The stuff has to be there. You have to be able to say, ‘That table is mine. I bought that table. It just hasn’t been delivered.’ As opposed to ‘I bought a table. I want to walk around the warehouse and find a table I like,’ ” he said.

Manheimer said nothing can be done for customers who only put down deposits toward items.

Manheimer said he doesn’t know how many customers paid for orders or put down deposits. He said the state Attorney General’s Office has referred about eight to 10 customers to him and that he had heard from a couple of others as well.

The Attorney General’s Office has fielded about a dozen calls from customers who have paid for furniture that was not delivered, said Martha Demerit, a spokeswoman for the office.

Maine Cottage has not filed for bankrputcy protection.

The business was founded by Carol and Peter Bass, who have since divorced. Carol Bass’ online resume indicates she was involved in the business until last year. Neither Peter Bass nor his lawyer in Portland, Timothy Norton, could be reached for comment.