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National Home Centers Enters Chapter 11

National Home Centers Inc., No. 26 on the latest ProSales 100, filed Dec. 9 for Chapter 11 bankruptcy-law protection from creditors, citing problems with its lender, which itself is just emerging from Chapter 11 status. More

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BMHC Closer to Exiting Chapter 11

Building Materials Holding Corp., operating under Chapter 11 since June, received approval for its disclosure statement in U.S. Bankruptcy Court in Delaware. The Boise, Idaho-based dealer and construction services provider can now begin oliciting approval of its reorganization plan from BMHC's creditors. BMHC said it "remains on track to complete its financial restructuring" and emerge from Chapter 11 by the end of 2009. More

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BMHC Gets Financing To Exit Chapter 11

Building Materials Holding Corp. announced that a group of lenders led by Wells Fargo has committed at least $83.5 million and possibly $103.5 million in financing that would enable America's sixth-biggest LBM operation to emerge later this year from Chapter 11 bankruptcy-law protection from creditors. More

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Bankruptcy Court Approves BMHC Financing

Building Materials Holding Corp. (BMHC) received final approval from U.S. Bankruptcy Court in Wilmington, Del. to access $80 million in debtor-in-possession (DIP) financing from Wells Fargo and other lenders.The Boise, Idaho-based dealer expects the new financing to provide "ample liquidity to meet its ongoing obligations to employees, customers, suppliers, and subcontractors," the company said in a prepared statement. At the same time, BMHC is implementing a pre-negotiated restructuring of its balance sheet. More

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BMHC's 1Q Loss Deepens to $45.2 million

Sales slump 51% to $167 million More

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BMHC Gets Extension on Loan Waiver

Building Materials Holding Corp. announced its lenders have agreed to extend through June 1 a waiver that lets America's fifth-biggest LBM operation continue to borrow up to $20 million. More

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The Shortest Great Depression on Record?

"I'm having trouble feeling appropriately bleak" about the current recession, Greg... More

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Alabama's High Court Overturns Lien Law Ruling

The Alabama Supreme Court overturned on Friday, July 18, two lower court decisions in a lien law case that an LBM group helped bring to the justices. The court decided mechanics' liens get priority over home purchase loans when the lien is filed after the construction loan is closed and the mortgage loans were recorded. More

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