A sign of the past becomes a sign of the future as the company re-opens its doors under local management.
The company that closed its doors as Stock Building Supply on Friday re-opened today as Kempsville Building Materials, preserving the jobs of 90-plus employees. It’s welcome news during a time when layoff announcements have become more the norm.
Kempsville Building Materials was a 50-year-old local employee –owned company before it was sold to Stock in 2006. Scott Gandy and Brenda Onley, two of the three principals of Kempsville Building Materials before the sale, worked out a partnership with Ohio-based Carter Lumber to keep the doors open at the Chesapeake and Newport News yards.
Earlier this year, Stock announced it would leave Hampton Roads as part of a Chapter 11-bankruptcy reorganization. Gandy and Onley have said they did it for the employees who have been responsible for the company’s success over the years. Gandy says he doesn’t expect immediate profits, but plans to be there for the industry when economic conditions improve.
TBA members can thank Kempsville Building Materials staff for their many years at the helm of the annual arm wrestling competition, a standard feature of the TBA picnic. The company has also supported the association as a Cornerstone member for years.
Read Philip Walzer’s article in The Virginian-Pilot.
See Shannons Simm’s coverage on WVEC-TV 13.
See Barbara Ciara’s coverage on WTKR-3.
