What can we build for you?" Stanley Jones Corp. asks visitors to its corporate Web site. For the past few weeks, however, potential customers probably have been asking other questions about the company.

Stanley Jones Corp. plans to pull out of the Birmingham market, albeit gradually, in the wake of its October bankruptcy filing. The company is seeking to reorganize under Chapter 11 of the bankruptcy law.

Until recently, the 59-year-old, Tennessee-based firm was the largest specialty subcontractor in the Birmingham area, based on number of employees. According to Birmingham Business Journal records, Stanley Jones had 450 employees in 2004 and three offices around the country. Heating and air-conditioning, plumbing and mechanical engineering are its specialties.

Of the 450 employed overall, Birmingham area employment ranged from 150 to 200 people, including both construction crews and office workers, says Stanley Jones' president, Gordon Jones, who visited Birmingham recently from company headquarters in South Fulton, Tenn. The company is now down to fewer than 100 employees and currently has four jobs under way, including The Birmingham News' new downtown headquarters and three projects for the University of Alabama at Birmingham. Jones says the company intends to finish these projects, which represent about $15 million to $18 million in revenue, by March.

What comes next remains uncertain, but the bankruptcy reorganization definitely will means less of a presence in Birmingham for Stanley Jones. In fact, the company's office staff here already has been pared from about 20 to nine.

"It's our intent to maintain some presence in the Birmingham area," says Jones. "But, at this point, I couldn't tell you what level it will be."

Profit narrows as costs rise
The family-owned company reports on its Web site that revenue for fiscal year 2002-2003 -- the latest available there -- was $90.5 million. Stanley Jones' attorney Robert Gonzalez says although the company's preliminary financial records showed assets of $28.5 million and liabilities of $25.5 million, figures now listed in court documents show assets of $14.8 million and liabilities of $17.4 million.

In a statement released when Stanley Jones filed its Chapter 11, Jones attributed the company's troubles to "rising costs and a series of unprofitable jobs." He sticks by that assessment, as well as his earlier statement that the company will "work through the reorganization process and emerge a stronger, more vibrant company."

Stronger, perhaps, but also smaller.

Jones describes the new Stanley Jones as a "downsized, smaller company focusing primarily on design-build industrial projects."

As the restructuring occurs, vendors are waiting to get paid.

Nashville attorney David Lemke, representing companies to which Stanley Jones owes money, including two in Birmingham, says Stanley Jones has at least 20 unsecured creditors. Together, they are owed about $10 million, Lemke says, noting that the amount could go higher since more claims may be filed before the cutoff for doing so.

Jones says his company plans to make good on its debts.

Those in the industry are certain of one thing: Stanley Jones' virtual exit from the Birmingham market heralds more changes.

Larry Whitehead, brought on as president of subcontractor Stegall Mechanical Inc. a few weeks ago, says he has been absorbing an ocean of information about what's happening in the industry.

Obviously, he says, the demise of Stanley Jones is going to leave a huge void for general contractors looking for manpower. What's more, he says, area bonding companies are likely to be taking an even closer look at companies' balance sheets