ASTORIA – Astoria Builders Supply was busier this morning than it had been in months. Its assets were being auctioned off.

Astoria Builders Supply Co., owned by Randy and Deborah Stemper, was placed in receivership by the court July 27. Revitalization Partners, the Seattle-based firm the court assigned to manage the companys assets, argued at a hearing in late August that the company could not be saved. The fixtures and remaining inventory from the Gearhart and Astoria stores were being auctioned over a two-day period by third-generation auctioneers James G. Murphy Co.

Dennis Haydon, a principal at Revitalization Partners, said funds raised by the auction would go first toward repaying $1.2 million owed to Columbia Bank (dba Bank of Astoria), and second to settle Astoria Builder Supply’s $1 million accounts payable.

Haydon said he only expected the auction to generate enough cash to repay the bank, but “you never know what’s going on until they tally it up.”