Hendricks looking to sell store

Published 8:32 pm Thursday, June 4, 2009

Despite its recent bankruptcy filing, Hendricks Building Supply will remain open in Troy while efforts to sell the local store are underway, owner Ken Hendricks said this week.

Owners of the Hendricks Companies, which include Hendricks Building Supply in Troy, filed for Chapter 11 bankruptcy in late May.

Hendricks said the sale of the Troy location is under way.

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“Once approved by the bankruptcy court, ownership will be turned over to the buyer. Operations will not be interrupted, and the stores will not be closed during the transition,” he said.

Hendricks said he could not reveal who the potential buyer is until the sale is finalized, nor did he provide a time line for the sale.

He said it is not certain but likely all staffing for the local store will remain the same.

There are several other Hendricks locations in the state, including Eufaula, Dothan and Ozark.

Hendricks said the Dothan store was sold last week to Branch Manager Doug Kosan, and a sale of the Ozark store is under way.

Troy’s store location was the first of the branches opened in the 1930s.

Hendricks Companies is the successor to Henderson, Black & Greene (HB&G), which was founded in 1880. The company expanded after Hendricks purchased it in 1977 but then later sold the manufacturing portion of the column company in 1999.

While selling the company is something that will not come easy for this family-owned business, Hendricks said it is the best option for residents in Troy.

“Taking this step has been very difficult and with great emotions,” Hendricks said. “My family lived very happily in Troy for 30 years, my children grew up there, and we all have fond memories. Severing this tie is difficult, but Troy will always have a special place in our hearts.

“Our intent in selling the Troy store is to provide for the continuance of the operation and thereby provide the Pike County market with a top-notch store providing for their building and remodeling needs.”