Friday, May 29, 2009

Stock Building Supply bankruptcy

More information is coming out about the bankrupty plan for Stock Building Supply.

CoStar Realty Information is reporting the company -- one of the largest suppliers of building products to professionals and do-it-yourselfers in the United States -- wants to cancel leases of 142 locations in its bankruptcy process. The chain operates 209 stores in 27 states.

The manager of the Amarillo Stock Building Supply at 6226 Canyon Drive said last week that it would remain open, a statement later confirmed by a spokeswoman for the chain.

The Gores Group recently acquired the chain from Wolesley, with its deal hinging on completion of a voluntary pre-packaged Chapter 11 process.

It's no secret that home improvement and building materials chains have been hard hit by the housing market downturn. CoStar gives a list of store leases that Stock Building Supply wants to cancel includes 19 in California, 17 in Florida and 17 in North Carolina.

Texas could see lease cancellations of 10 stores in Austin, Conroe, the Dallas-Fort Worth Metroplex, Houston, Mission, Round Rock and San Antonio, according to CoStar's list.

1 comment:

cwebb said...

Karen: If you or your readers want to learn more about Stock, I'm tracking the news and keeping a list of closures. See it at www.prosalesonline.com. My publication serves executives at lumber and building material dealers across the U.S., and Stock is the No. 2 dealer in the country. Even with the closures, it'll stay in the top 10.