Builder’s Lumber goes bust

Wednesday, October 26, 2011

By Jake Nichols

Jackson Hole, Wyo.-Add Builder’s Lumber & Supply to the growing list of casualties in the construction field after the building bubble in Teton County burst in 2008. Harv McMillan launched Builder’s Lumber in 1987, purchasing Sanders Lumber from Jack Sanders. The shop was then located near Bank of Jackson Hole. McMillan moved to his present location on Meadowlark Lane in 2000.

McMillan says he has been hanging on for three years now, hoping for a turnaround, but bad debt is killing him.

“I took about a $20,000 hit on one account alone,” McMillan said. “I finally got paid after three years on the White Buffalo[Club] project. But it’s the little hits that add up. I had hundreds of smaller accounts; guys who always paid their bills, for the last 20 years, and now they can’t make their house payments anymore. It’s tough.”

And the crunch is being felt all over.  “These last two years have been very difficult. I can tell you that,” said Blake Clark. Clark has laid off half the staff at Jackson Lumber since the boom busted. “I’ve known Harv for a long time—since 1978 when he worked for me. He’s been great competition. I’m bummed that he is leaving but I understand. He’s a good man, and I wish him the best, and we are ready for his customers here at Jackson Lumber.”

McMillan’s situation was made more difficult when he sold the current property that Builder’s Lumber occupies and leased it back. McMillan says the rent (and other overhead) was based on a pre-recession economy and he just felt he could hang on no longer.

“That lease was probably my anchor,” McMillan said. “But, as of now, I don’t owe anyone any money, so it was just a good time to get out.”
McMillan says he noticed the middle class of Jackson being hit the hardest by the sour economy.

“There are only so many of these trophy houses to go around,” McMillan said. “There’s a half dozen contractors out there still going big time, but it’s the little guys who are feeling it. The smaller contractors who have to whittle their expenses down to the bone to win a bid and the weekend warriors, who are building a deck or something, are going away.”

Builder’s Lumber & Supply will be liquidating all merchandise and assets through the end of November. McMillan says he will remain as manager of the property. He has received interest from potential commercial renters but no offers yet.
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Builder’s Lumber goes bust | Planet JH News Article: Business

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