On Thursday, the Foxworth-Galbraith Lumber Company announced it was closing the doors on its Payson and Lakeside locations due to the economic times, which have brought the construction market to standstill.
The closure comes on the heels of ProBuild closing its doors last month in Star Valley, also because of the rough economic climate.
Mike Beattie, manager at the Payson location, said he was momentarily shocked when he found out the store would close by the end of the month.
“As time goes on, I can sort out all of my options as the dust settles,” he said.
The company is offering all employees, including the 14 at the Payson location, a severance package.
“While the housing environment in Payson and Lakeside has forced us to make these tough decisions,” said President JC Galbraith III, “these closures are not intended to reflect negatively on the high level of dedication, commitment, and hard work from our many company associates in these locations.”
Beattie estimated that a lumber company has occupied the current location, at 202 N. Beeline Highway, since the 1960s or 1970s.
The Foxworth-Galbraith Lumber Company purchased the location in the early 1990s.
“It was just a matter of the economic times,” Beattie said. “With the residential housing market decline nationally and statewide, that was the reason (we closed).”
“We express our deep appreciation to our builder clients and customers for their patronage, as well as our profound appreciation to our associates for their dedicated service,” said John Pugliese, Regional Operations Manager for Arizona.
Pugliese added, “Despite these locations’ closures, Foxworth-Galbraith will continue to sell building materials from our distribution yard in Prescott, as well as supply trusses to the area from our Gilbert Truss facility.”
The Dallas-based Foxworth-Galbraith Lumber Company operates lumberyards in Colorado, New Mexico and Texas.
Foxworth-Galbraith also recently closed its Pueblo, Colo. location and in March will close its Nogales, Ariz. store.