Stock Building Supply details closures
Industrial Distribution staff -- Industrial Distribution, 10/28/2008 12:16:00 PM
Stock Building Supply, the American building materials distribution business of British giant Wolseley plc, listed some of the 86 locations—25 percent of the total—it plans to close as part of a massive restructuring that will see 3,000 workers lose their jobs, the Home Channel News Web site reported (registration required).
Wolseley said last week that it will shutter 86 Stock branches and exit 16 markets in six states, taking its total number of United States branches to 209 and the total number of layoffs since 2006 to 10,600—55 percent of its total workforce. The latest round of cuts pares the Raleigh, N.C.-based distributor’s workforce by 28 percent to 8,700.
The branches to be closed at an as-yet-undetermined date include locations in the following states:
• California: Bakersfield, Santa Barbara and San Bernardino
• Delaware: Dover
• Florida: Ft. Myers, Jacksonville, Panama City and Pompano
• Kentucky: Frankfort and Lexington
• Louisiana: Gulf Coast
• Michigan: Grand Rapids
• Nevada: Reno
• Ohio: Cincinnati
• Texas: Mission
Wolseley ranked first on INDUSTRIAL DISTRIBUTION's 2008 Big 50 list of distributors, with 2007 sales of $31.6 billion.
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