someone just told me that stock building has filed for chapter 11.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
LONDON -- British construction supply provider Wolseley announced that it has signed agreement with The Gores Group, LLC giving that company a 51% stake in Stock Building Supply. As part of the deal, Stock Building Supply entered into a "pre-packaged" Chapter 11 bankruptcy filing.
According to Gore, "a pre-pack is a frequently used procedure to sell and recapitalize businesses in the US and will facilitate an orderly change of control transaction."
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