Company officials have said the chain's financial problems beganaround the first of the year, when a Y2K-related computer glitchcaused inventory control problems. Heavy competition and underperforming stores in some of the company's nine markets compoundedthe problem. The 16-year-old company owes nearly $20 million toUnion Bank and another $6.7 million to more than a dozen unsecuredcreditors. Supply One is privately held by members of the Steinerfamily, including John Steiner Jr. and Tim Steiner.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
