Bison Building Materials, a Houston-based building supply company that distributes lumber and building products to home builders is opting for Chapter 11 and has made plans to restructure the business. They will do this partially by focusing solely on the Houston and Beaumont Texas areas.

During the Real Estate boom, Bison expanded its services into Las Vegas, Phoenix, and Denver, areas which are now considered the worst housing markets in the country. Chron.com quoted Tom Tolleson, COO of Bison as saying “Geographically, this is the market we know best. We’ve essentially come home.”

Through expansion, Bison sustained significant costs from real estate and equipment leases. The Chapter 11 petition lists assets and debts at between $50 and $100 million. Over the last 2 years, Bison has closed down or consolidated 16 distribution centers in the areas hardest hit. Add to the above areas, New Mexico, Ohio and Texas. The company, privately held, was founded in Houston in 1962, had 1,350 employees at the peak of the boom and now has less than 600.

Popularity: unranked