Stock+Field under new ownership and keeping Indiana stores open
CRAWFORDSVILLE, Ind. (Inside INdiana Business) — Farm supply and outdoor department store Stock+Field, which filed for Chapter 11 bankruptcy in January, will reopen several locations throughout Indiana under new ownership.
Illinois-based R.P. Acquisition Corp. says it is purchasing the assets of the retailer, formerly known as Big R.
Stock+Field has stores in Crawfordsville, Elkhart (2), Rochester, Marion, Michigan City, Wabash and Warsaw. There is no word if all of the locations will remain open, which have been liquidating inventory.
R.P. Acquisition is a subsidiary of R.P. Lumber Co. Inc., a family-owned hardware and building material retailer throughout Illinois, Missouri, Wyoming, and Iowa. R.P. says the stores will retain the Stock+Field name, and the new owners will seek input from employees and the communities they serve as they plan for the future of the brand.
“Our focus right now is on keeping Stock+Field stores open and serving the many communities they have served for years and, in some instances, decades,” said Robert L. Plummer, chairman of R.P. Acquisition Corp.
Plummer says the stores will continue to serve the same customers: farmers, ranchers and homeowners who live in rural areas.
“We love the farm and ranch space but, perhaps even more importantly, we saw this as an opportunity to invest in rural America, contribute to the growth of these great communities, and help keep many, good, hard-working people employed,” said Plummer.
R.P. Lumber Co. operates 72 stores. The acquisition of Stock+Fields’ 25 stores will bring its total ownership to nearly 100 locations.