Rufus Deering Lumber Closing After 162 Years – Selling Land to Developers
According to the Portland Press Herald, one of the oldest businesses in Maine will shut its doors because the land they've been on for 162 years is too valuable now to not sell to developers.
Rufus Deering Lumber will close on November 30th, selling the land their lumber yard has been at all these years on Commercial street. The property is valued at $2.7 million and was sold to an out-of state developer know for building luxury condominiums.
The good news is that Rufus Deering is transferring most of their employees to Eldredge Lumber. The bad news is another iconic Maine business closes its doors. Who could blame them though? The money had to be too good to pass up.