Feb 12, 2010. /Lesprom Network/. Sherwood Lumber acquired most of the assets of Bloch Lumber, at a December 29 foreclosure auction demanded by its lender. Renamed Bloch Lumber Acquisition LLC, the wholesaler will operate as a wholly owned subsidiary of Sherwood, as Building-Products reported. "We have hired all of Bloch Lumber's employees in their current locations," said Donald Schneidman, CFO at Sherwood. "We are in the process of working through the inventory purchased and determining what warehouses work and which do not. That determination will occur over the next several months." Bloch, which was founded in 1959 by Ted C. Bloch, was headquartered in Chicago and had branch offices in Lebanon and Akron, Oh.; Ashland, Va.; Grimesland, N.C.; Fairply, S.C.; Denver and Silt, Co., and Portland, Or., and shipped from warehouses across the U.S. Before the auction, attorney Gary Segal said that the "lender is exercising its right under a loan agreement" to take materials that had been pledged as security for a loan. Sherwood was founded in 1954, by Bernard Goodman. His son Andy is now President of the company, which has sales offices in New York, North Carolina, Florida, and Washington, plus distribution centers in New York, Connecticut, Delaware, Virginia, and Florida.