One of the Triangle’s veteran homebuilders is shutting its doors after being unable to successfully emerge from bankruptcy.

Anderson Homes, along with its younger cousin Vanguard Homes, has changed its bankruptcy filing from Chapter 11 to Chapter 7, meaning the Cary company’s remaining assets will be sold to pay off creditors.

Anderson and Vanguard entered bankruptcy protection in March of last year. President Dave Servoss said the longer Anderson remained in bankruptcy the harder it became to emerge.

He said the accumulation of interest and attorney fees was swallowing up most of the company’s operating budget.

“As one of my bankers put it, the bag of rocks was just getting too heavy to carry,” Servoss said.