Major Layoffs at Stock Building Supply
Stock Building Supply plans to eliminate 2,200 jobs as part of its bankruptcy filing and also terminate leases at 210 locations. The distributor filed for Ch. 11 bankruptcy protection earlier this month. Private equity firm Gores Holdings entered into a joint venture with Wolseley to revive the building supply distributor. Even after the planned job cuts, Stock Building remains the fifth-largest construction materials supplier in the country.
Read more here from Modern Distribution Management.