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Young Lumber, a dealer based in New Castle, Del., has closed, according to an article in The News Journal.
Founded in 1935, the family-owned business served builders in the Delaware, Philadelphia and New Jersey markets. In 2008, the company did $50.4 million in sales out of two locations, according to the Home Channel New Top 350 Pro Dealers Scorecard.
Company president Tom Shea, a third-generation owner, blamed falling housing starts and cash-flow problems for the lumberyards’ closure.