National Home Centers sells to Stock Building Supply

A building supply company that emerged from bankruptcy July 1, 2009, has purchased Springdale-based National Home Centers, which entered bankruptcy reorganization in early December.

According to this report in ProSales Online, Raleigh, N.C.-based Stock will buy the assets of National Home Centers. The deal was announced Friday (Feb. 26). ProSales is a trade publication for the home building industry.

Brent Hanby, chief financial officer for National Home Centers, told The City Wire that the sale to Stock will not effect the Fort Smith operation.

"We are excited about the offer received from Stock," National Home Centers CEO Dwain Newman said in a press release. "It is a financially stable partner with a well-developed strategy and a demonstrated track record of improving its own operations despite tough market conditions."

National Home Centers closed branches in Bentonville, Clarksville and Little Rock.

According to ProSales, National Home Centers had $144.7 million in revenue in 2008, ranking it 26th among the nation’s top 100 building supply operations. National Home Centers recorded a $470,740 loss in December, its first month under Chapter 11.

Stock estimates its revenues will drop from $3.2 billion in 2008 to roughly $1 billion in 2009. The company previously had more than 300 locations around the U.S., but is now operating in 19 markets.