The business closed Oct. 30 due primarily to the severe recession, said Steven Grise of West Milton, the company’s president. Grise owns the company with his brother, Roger of Germantown, and a longtime friend of the Grise family, Esther Winklejohn of Frankfurt, Ky.
Founded in 1957, Plumbers Supply employed about 15 people. About 90 percent of the company’s sales were wholesale, while about 10 percent were retail, Steven Grise said.
The company’s gross sales had been in freefall in recent years, sliding from $3.37 million in 2007 to $2.81 million in 2008, according to a bankruptcy court document dated Monday, Jan. 18. For the 10 months that the business was open in 2009, gross sales totaled only $1.09 million.
Companies holding the largest unsecured claims include Bradford White Corp. of Philadelphia ($271,802) and Steven Grise ($166,823).
Contact this reporter at (937) 225-7457 or bsutherly@DaytonDailyNews.com.
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