More details on Stock branch closings
Last week’s announcement of a major consolidation at Stock Building Supply has set off much speculation about which 86 branches will be closed as part of the restructuring. Wolseley, Stock’s parent company, said it was leaving 16 markets in six states but gave no specific locations, other than “Louisiana, where [Stock] does not have a significant presence.”
Since then, Home Channel News has obtained a preliminary list of the closings. Upon request, the communications office of Wolseley’s North American division provided the following list of 15 locations slated to be closed:
• Bakersfield, Santa Barbara and San Bernardino, Calif. (Stock will still have locations in the Los Angeles market.)
• Dover, Del.
• Ft. Myers, Jacksonville, Panama City and Pompano, Fla.
• Frankfurt and Lexington, Ky. (Frankfurt customers can be served from the Louisville location.)
• Gulf Coast, La.
• Grand Rapids, Mich.
• Reno, Nev.
• Mission, Texas
Wolseley has given no timeline for closing all 86 branches, which will leave Stock with 209 locations in 27 states. In an Oct. 23 analyst conference call following the announcement, Wolseley CEO Chip Hornsby said: “Our intent is to move pretty rapidly. It’s already being put into place.”
“We are holding on to the operations where we are No. 1 or No. 2 in the markets,” Hornsby continued. Listed as Stock’s “top states” were North Carolina, South Carolina, Florida, Texas, California and Utah.