Bison Building Materials Ltd., Houston, TX, has filed for Chapter 11 Bankruptcy protection. The regional building materials supplier is the latest company to file for federal protection as a result of the struggling residential construction market in the U.S., following Stock Building Supply, ORCO Construction Supply, and Building Materials Holding Corp. which have filed within the last two months.
At its peak, Bison had about 1,350 employees with locations in six states; as of June 1, the company employed 556 people and had closed all operations outside of Texas. Sales have declined nearly 40% since 2006, to $179.1 million for fiscal year 2009 ended April 30.
A combination of real estate lease obligations and a tight credit market led to the decision to file for bankruptcy, said …
