Beacon Lumber, a family-owned lumber and hardware dealer in New Bedford, Mass., plans to close and auction off its lumber division, according to a report in the local newspaper South Coast Today.
The lumber company plans to keep its paint and hardware store opened, while shutting down its lumberyard and auctioning off materials and equipment on Sept. 20, according to the report.
The closure was due to increased competition, a poor economy and failure of pro customers to pay some debts, the owners said. The yard saw most of its business from contractors.
Because of the struggling housing market, the owners told the newspaper they’ve decided to shift the business’s focus to consumer hardware.
The company was purchased in 1982, by Armand and Steve Brodeur. At its height, Beacon lumber employed about 100 people, down to around five today.