NORTH SALT LAKE — Advanced Lifts and Elevators, doing business as The Elevator Co., has stopped operations and says it will liquidate.

A news release on the company's Web site says the manufacturer and distributor of residential elevators has been in operation for 17 years. Despite a "recent severe downturn" in the housing industry, in particular the residential elevator industry, the company said a hoped-for sale would allow it to remain in business. But after five months of trying to close the sale, the proposed buyer backed out, it said.