Stock Building Pursues Bankruptcy Sale To Gores

Law360, New York (May 6, 2009, 12:00 AM EDT) -- As part of Wolseley PLC’s efforts to sell off construction materials company Stock Building Supply Holdings LLC, the subsidiary has filed a prepackaged Chapter 11 bankruptcy through which private equity firm the Gores Group LLC will acquire a majority stake in Stock Building.

Stock Building and 25 affiliates filed for bankruptcy Wednesday in the U.S. Bankruptcy Court for the District of Delaware, hoping for a swift end to the prepackaged plan, which is expected to allow the company to shed operations in closed or underperforming markets....
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