Roxbury Stock to close in June
By Matthew J. Perry
Five regional Stock Building stores, including the location in Roxbury, will close in mid-June.
Katie Cralle, a spokeswoman for Stock Building, confirmed that stores in Roxbury, Walton, Oneonta, Sidney and Richmondsville will either be sold off or closed.
“Stock will be exiting or closing stores in select under-performing markets in order to focus on those markets with the strongest prospects for growth,” reads an official statement from the company. “We are currently in the process of determining the best way to exit these locations, which may involve either a sale or orderly wind down of the operations.
We’re making these difficult decisions now to ensure Stock is well positioned for the housing market upturn. We are committed to ensuring a smooth transition for our valued customers at these affected locations and look forward to continuing to provide high quality products and services to customers nationwide.”
The Daily Star’s of Oneonta recently identified as an employee of one of the five regional stores, speculated that there are other motives behind the move. It has been reported that Stock filed for bankruptcy earlier this month while The Gores Group LLC, a private equity firm, has moved to take a 51 percent stake in its holdings.
Stock Building Supply is based in Raleigh, North Carolina, and presently operates nearly 200 stores in 27 states.
The anonymous worker speculated that the change in management would dictate the wind down of stores that did not ‘fit the mold’ of the new corporate entity. Cralle stated that the decision to sell or close would be financial. “There are interested buyers,” she said.
Employees of the Stock store in Roxbury did not answer any questions last Monday, and instead directed inquiries to the Brunswick Group, an international public relations firm with a offices in Manhattan.