Building-supply firm to close July 31

Stock Building Supply in Evergreen will close July 31.

The store, located at 41 West Reserve Drive, is part of a larger national corporation whose offices are located in Raleigh, N.C. The company filed for Chapter 11 bankruptcy May 6.

According to the Triangle Business Journal in Raleigh, Stock lost more than $200 million in fiscal 2008.

"The company is pulling out of certain underperforming markets," Stock spokeswoman Katie Cralle said. "These are obviously tough decisions."

Cralle would not say how many stores the national corporation will close, nor how many employees it would lay off. Stock currently employs more than 8,500 people nationwide.

"Stock is closing but we're trying to keep it open as another entity," said Brent Hall, general manager of the Kalispell store. "Someone else may be taking over."

Cralle said that the company hopes stores will be sold instead of shut down.

Stock was owned by Wolseley PLC, a publicly traded British corporation that is Europe and North America' leading supplier of construction products and materials.

In October, Wolseley cut 3,000 jobs and 86 locations, which reduced Stock to 209 locations and about 8,700 employees - down 55 percent from the company's 2006 peak, the Triangle Business Journal reported. The company has since shed more jobs.

Private equity firm The Gores Group LLC has taken a majority stake in the failing company.

The Evergreen Stock Building Supply business previously was Anderson Lumber. Before that it was Try-City Lumber.

Reporter K.J. Hascall may be reached at 758-4439 or by e-mail at kjhascall@dailyinterlake.com