National Lumber and Supply Ordered Liquidated: U.S....
National Lumber and Supply Ordered Liquidated: U.S. Bankruptcy Court Judge James N. Barr of Santa Ana ordered the Fountain Valley company liquidated by a trustee, a move that means one of Southern California’s oldest chains will soon disappear from the retailing scene. Barr approved a motion to convert the home-improvement company’s Chapter 11 reorganization petition to Chapter 7, under which company assets will be sold and proceeds distributed to creditors. Attorneys for President Melvin Jaffee, whose father founded the once-vigorous chain in 1942, sought the liquidation after the company’s creditors attempted in court to take control of the company and remove Jaffee. Only two stores remain open.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
