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Elco Building Supply, Roswell, N.M., is shutting down all operations at the end of 2019, after 17 months in business.
The commercial/industrial dealer opted to voluntarily liquidate all assets to eliminate outstanding debt and avoid “bankruptcy or other creditor protection,” according to CEO and co-founder Justin Ellis. “We are disappointed that the situation has reached this point, but we are so thankful that we are able to wind the business down in an orderly manner.”
Ellis and much of his team were longtime veterans of Builders Do it Center, Roswell, but left after the store was sold to Foxworth Galbraith Lumber Co.