Text from an article in the Arizona Republic 3/7/12
Glendale-based Schuck & Sons Construction Co. Inc. has decided to shut down after more than 45 years of operation, according to a financial consultant retained by the company.
Phoenix-based MCA Financial Group has been hired by Schuck & Sons to implement an orderly wind down of the operation over the next 90 to 120 days, said Morrie Aaron,MCA's president and senior managing director.
Aaron said Schuck & Sons, which specializes in framing for the homebuilding industry, has been severely affected by the Phoenix area's record-low home-construction activity during the past few years.
Management told employees late last week about the decision to cease operations, he said.
Aaron said he did not know how many employees remained at Schuck & Sons, but indicated that the company had been reducing its staff in recent months.
The wind-down process would not require a bankruptcy proceeding and would be handled outside of the courts, Aaron said.
Schuck & Sons has made arrangements with its customers to help them smoothly transition active projects to other contractors, he said.
The company also is helping its employees transfer to contractors that will be taking over Schuck & Sons' projects, Aaron said.
Schuck & Sons was founded in 1966 by Kent R. Schuck.
In 1997, the Schuck family sold its controlling interest in the company to the employees, making Schuck & Sons one of the few 100 percent employee-owned companies in the Phoenix area.
The company, which has a reputation for quality work, won awards in recent years from such organizations as the U.S. Army Corps of Engineers and Sun Lakes home builder Robson Communities.
Important information for Schuck Employees and Former Employees
Click here to view letter regarding the 401k plan
Click here to view forms for Independent Medical Coverage
Click here for Portability Medical Coverage
Click here for Benefits Summary for Pre-Existing Condition Insurance
This is a picture of the carpenters on the last project
that Schuck and
Sons worked on. It is the Canyon
Day Teacher Housing Project
4/6/2012