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Stock Projects Major Shrinkage in Coming Years
Stock Building Supply expects that the company emerging from Chapter 11 bankruptcy will make only one-third as many sales as it did just a year ago and won't turn a profit until 2013. It also asked the court to reject more than 60 additional leases while it's in Chapter 11, some of them in states where it hasn't made previous closure plans. The projections came as Stock continued to shut its Mountain West operations, and set up an e-mail address for buyers interested in acquiring any of the properties it has said it will shutter in the days since it got a new 51% owner and filed for Chapter 11 bankruptcy protection.
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