BlueLinx Sells Closed Facility to Pay Down Debt
May 21, 2014 | 9:49 pm CDT
BlueLinx Adds Former Home Depot Executive as CFO

BlueLinx Sells Closed Facility to Pay Down DebtATLANTA - BlueLinx Holdings Inc. a distributor of building products, sold a Portland, OR, distribution facility it closed in 2013 for $7.2 million.

BlueLinx said sale proceeds of the 109,000-square-foot distribution center facility located in Portland, OR, will be used to help it reduce its outstanding debt obligations. The company said it expects to record a gain of approximately $4.9 million in the second quarter of 2014 as a reduction of operating expense.

Last September, BlueLinx sold its office building in Denver, CO, for $8.2 million as part of its debt repayment initiative.

BlueLinx, the former distribution center of Georgia-Pacific, operates a network of 50 distribution centers to serve dealers, industrial manufacturers, manufactured home producers and home improvement retailers. Cerberus Capital Management, along with a team of senior leaders from the G-P division, purchased the assets from Georgia-Pacific in May 2004, forming BlueLinx Corporation.

BlueLinx, which employs more than 1,700 people, recently named Susan O'Farrell, CFO.

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