NEW YORK (AP) Angelus paints, the company that has created the iconic wave painting, says it is shutting down its art studio in the United States.

The company says the move was the result of its struggling financial condition and the financial difficulties of its art workers.

The company, which is based in the Dominican Republic, says in a statement that it has been unable to pay employees wages due to declining revenue.

It says the closure will affect about 2,400 employees in New York City.