84 Lumber confirmed today that it has closed branches in Winston-Salem, N.C., and Richmond, Va.
The closure in Winston-Salem marks 84's departure from North Carolina's Triad region; it's nearest branch is now 50 miles away. The facility in Richmond will be merged into another yard serving Virginia's capital, an 84 Lumber spokesman said.
84 has steadily closed branches in recent years as the housing market shrank and financial challenges rose. On Feb. 14, it closed a deal that uses federal and private loans to pay off the final $40 million of a $195 million, 18% interest loan that has hobbled the LBM giant's operations.
84's $1.35 billion in sales last year put it sixth on the latest ProSales 100 list of top LBM operations. A merger higher up the list has since moved it to fifth place. (See updated list.) At the start of 2010 it had just over 300 locations and 4,000 employees; it now has roughly 275 locations.