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[LETTERHEAD OF SCHULTE ROTH & ZABEL LLP]

October 19, 2004

VIA EDGAR

Securities and Exchange Commission
Division of Corporation Finance
450 Fifth Street, N.W.
Washington, D.C. 20549

Attention:   Brigitte Lippmann
Nudrat Salik

Dear Ms. Lippmann and Ms. Salik:

        On behalf of BlueLinx Holdings Inc. (the "Registrant"), we sent a letter dated October 8, 2004 (the "Response Letter"), in response to the comments of the Staff set forth in its letter dated September 30, 2004, concerning the Registration Statement (the "Comment Letter"). The Response Letter indicated that certain supplemental information would be provided under separate cover. At the recommendation of the Staff, we are resubmitting certain supplemental information since we are requesting confidential treatment of a list of option grants provided by the Registrant to the Staff in response to comment 84. Our confidential treatment request relating to the list of option grants will be submitted under separate cover in accordance with Rule 83 of the Freedom of Information Act ("FOIA"), 17 C.F.R. 200.83. In accordance with Rule 418(b) of the Securities Act of 1933, as amended, attached is the supplemental information referred to in the Response Letter, other than the information covered by the FOIA confidential treatment request:


        Pursuant to Rule 418(b), we respectfully request that the supplemental information attached to this letter be returned to the Registrant upon completion of its review

    Very truly yours,

 

 

By:

/s/  
EDWARD H. SCHAUDER      
Edward H. Schauder, Esq.
CC:   Barbara V. Tinsley (without enclosures)
BlueLinx Holdings Inc.
General Counsel and Secretary

 

 

David J. Morris (without enclosures)
BlueLinx Holdings Inc.
Chief Financial Officer

 

 

Michael R. Littenberg, Esq. (without enclosures)
Schulte Roth & Zabel LLP

2



Annex A

Building Products Distribution Division of Georgia-Pacific Corporation

Selected Operating Segment Data (unaudited)

(Dollars in thousands)

 
  Fiscal Year Ended
   
   
   
   
   
 
  January 3,
2003

  2nd Quarter
2004

  2nd Quarter
2003

  1st Six Months
2004

  1st Six Months
2003

  Notes
Net sales   $ 4,271,842   $ 605,452   $ 1,034,457   $ 1,885,334   $ 1,910,907    
Adjustments to sales/COS     (5,462 )   17,125     (4,095 )   868     (5,222 ) 1
International sales     33,000                           2
Sales as reported by Georgia-Pacific   $ 4,299,380   $ 622,577   $ 1,030,362   $ 1,886,202   $ 1,905,685    

Net income

 

$

56,153

 

$

16,621

 

$

11,820

 

$

50,940

 

$

11,878

 

 
Adjustments to sales/COS     (676 )   3,034     (654 )   4,176     499   1
Depreciation           1,744           2,679         3
Legal loss reserve     3,294           959           2,115   4
Benefits     1,180           482           526   4
Insurance     1,980           511           1,022   4
Stock compensation     1,472     1,812     213     1,812     297   4
Gain on sale of division           7,000           7,000         5
Provision for income taxes     34,877     10,144     7,368     31,089     7,404    
Operating Income as reported by Georgia-Pacific   $ 98,280   $ 40,355   $ 20,699   $ 97,696   $ 23,741    

1
Georgia-Pacific's reported figures exclude current period shipments that were billed after period-end. These amounts are considered to be material for a stand-alone entity.

2
Unrelated international distribution sales included in the Georgia-Pacific segment number.

3
Georgia-Pacific discontinued reporting depreciation as of March 12, 2004 when the agreement was signed to sell the division.

4
Corporate costs that are not reported by Georgia-Pacific on a segment basis.

5
Gain on division sale reported by Georgia-Pacific for the quarter ended July 3, 2004


Annex B

Building Products Distribution Division of Georgia-Pacific Corporation

Balance Sheet

(Dollars in thousands)

 
  Pre-acquisition Period
   
   
  As reported by
Georgia-Pacific

   
 
  January 3,
2004

  Georgia-Pacific
Adjustments

  BlueLinx
Adjustments

  January 3,
2004

  Notes
Assets:                    
Current assets   615,550   (50,000 ) 5,570   571,120   1 (Georgia-Pacific) and 2 (BlueLinx)
Property, plant, and
equipment, net
  201,091           201,091    
Other non-current assets   3       (3 )    
   
 
 
 
   
Total assets   816,644   (50,000 ) 5,567   772,211    
   
 
 
 
   

Liabilities

 

 

 

 

 

 

 

 

 

 
Current liabilities   172,878       (46,366 ) 126,512   3

Noncurrent liabilities:

 

 

 

 

 

 

 

 

 

 
  Long-term debt                
  Deferred income taxes   3,792       (835 ) 2,957   2
  Other long-term liabilities   2,901       (2,901 )   4
   
 
 
 
   
Total liabilities   179,571     (50,102 ) 129,469    
   
 
 
 
   
Net assets   637,073   (50,000 ) 55,669   642,742    
   
 
 
 
   

1)
Historical intercompany eliminations recorded at the parent (Georgia-Pacific) level.

2)
Miscellaneous adjustments made to record items not passed to the division and other adjustments booked to reflect a stand alone entity.

3)
Audited adjustments to reflect the operations in a stand-alone manner.

Direct sales accrual   11,593
Intransit inventory   23,500
Transfers to parent equity   9,587
Other   1,686
    46,366
4)
Long-term workers compensation and pension reserves not passed to the division.


Annex C

84.
Provide us an analysis of all equity issuances since your formation. For each issuance, identify the parties, the nature of the consideration, the fair value and your basis for determining fair value. To the extent applicable, reconcile the fair values you used for equity issuances to the fair value indicated by the anticipated IPO price range.

a)
On March 10, 2004, Cerberus ABP Investor LLC, ("Cerberus ABP") subscribed for 100 shares of the Registrant's common stock in exchange for $1,000 consideration. This initial issuance of the Registrant's 100 shares of common stock was for nominal consideration since the Registrant was recently incorporated on March 8, 2004 and had no operations or assets at the time of such subscription.

b)
On May 7, 2004, the Registrant sold shares of its stock in private placements to Cerberus ABP and certain of its executives as follows:

(i)
18,099,900 shares of the Registrant's common stock to Cerberus ABP at $0.25 per share for an aggregate purchase price of $4,524,975.

(ii)
95,000 shares of the Registrant's series A preferred stock to Cerberus ABP at $1,000 per share for an aggregate purchase price of $95,000,000.

(iii)
700,000 shares of the Registrant's common stock to Charles H. McElrea at $0.25 per share for an aggregate purchase price of $175,000;

(iv)
500,000 shares of the Registrant's common stock to George R. Judd at $0.25 per share for an aggregate purchase price of $125,000;

(v)
300,000 shares of the Registrant's common stock to Steven C. Hardin at $0.25 per share for an aggregate purchase price of $75,000;

(vi)
200,000 shares of the Registrant's common stock to David J. Morris at $0.25 per share for an aggregate purchase price of $50,000;

(vii)
100,000 shares of the Registrant's common stock to James C. Herbig at $0.25 per share for an aggregate purchase price of $25,000; and

(viii)
100,000 shares of the Registrant's common stock to Wayne E. Wiggleton at $0.25 per share for an aggregate purchase price of $25,000.



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Annex A
Annex B
Annex C