ST. CLOUD — A St. Cloud-based telemarketing company created after the Watergate scandal to raise funds for the Democratic Party is insolvent and will close.

Meyer Teleservices owner Gary Owen said the decreasing number of telephone land lines and the lack of access to cell phones have crippled his business. He said politicians are turning to the Internet to raise funds.

The company has closed its offices in Eveleth, St. Cloud and Little Falls. About 100 people have lost their jobs in Eveleth alone.