Long-time lumber firm shuts down, sells land to University of Michigan
December 18, 2018 | 10:59 am CST
ANN ARBOR, Mi. - Fingerle Lumber, a family-owned business in operation more than 87 years, will shut down early next year.
Owning brothers John and Mark Fingerle are ready to retire.
"This decision has not been made easily or overnight," said the brothers in a statement on their website. "Many factors have caused us to conclude that retirement at this time makes sense."
"We will sell our inventory and displays. Existing special orders will be filled. We will accept future special orders only if we are confident that we can complete them in a manner that meets your needs and expectations."
The exact shut down date hasn't been revealed but should be prior to March 31. All employees have been notified.
The brothers will sell their six-and-a-half acres of land to the University of Michigan for $24 million. The land includes warehouses.
The university will have 90 days to complete due diligence on the property, says Michigan Live. It's unclear how the school intends to use the land.
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