H. N. Hinckley & Sons in Vineyard Haven could be sold at auction early next month if the owner is unable to resolve his financial problems.
H. N. Hinckley & Sons, a well-known lumber, hardware and plumbing supply business in Vineyard Haven founded more than a century ago, has fallen on hard times and could be sold at auction early next month if the owner is unable to resolve his financial problems.
A foreclosure sale is scheduled for noon on Feb. 7 at the property on Beach Road in Vineyard Haven. But Wayne Guyther 3rd, the current owner and great-grandson of the founder, said Thursday that he is working diligently to avoid an auction.
“We’re trying to work things out . . . it’s a very complicated situation,” Mr. Guyther said, speaking to the Gazette by phone Thursday morning. He said the hardware store remains open for business and he hoped to see the lumber yard back in operation shortly. “The lumber yard is still not to full capacity, but we’re working on that. We’re trying to work everything out,” Mr. Guyther said.
Among other things, Mr. Guyther, who is president and treasurer of the corporation, said he is owed more than $1 million by customers. “We’re still in the process of trying to collect,” he said.
Business sits on largest commercial property in Vineyard Haven.
Business sits on largest commercial property in Vineyard Haven.
According to a description by the auction company Paul Saperstein of Holbrook, the property includes four buildings, a two-story, 11,401-square-foot office, retail and warehouse building, a 4,000-square-foot lumber storage building, a 3,500-square-foot hardware store, and a 2,700-square-foot plumbing supply building. The 1.6-acre property is believed to be one of the largest commercial sites in town and overlooks the Vineyard Haven harbor. The assessed value is $2.5 million, according to Tisbury assessor records. The land alone is assessed at $1.58 million.
The last sale date was in 1924, the same year that H.N. Hinckley & Sons was incorporated as a business, according to state land records.
The mortgage holder on the property is the Martha’s Vineyard Savings Bank.
An attorney for the bank said the foreclosure process is proceeding on schedule.
“At this point, the auction is proceeding,” said Thomas Vangel, who works for the Boston firm Murtha Cullina LLP.
Last sale was in 1924.
Last sale was in 1924.
Business founder Herbert N. Hinckley was once one of the Island’s most prominent citizens, according to newspaper clips in Gazette archives. He came to the Vineyard as a young man intent on building homes, and later, with his sons, established a lumber supply business which grew to become the largest on Martha’s Vineyard.
A story about the family patriarch in 1926 described Mr. Hinckley’s first voyage to the Island as a 24-year-old carpenter. Four years later, he began his own contracting business from humble beginnings.
“His capital consisted of $18 and the finest set of tools he could purchase,” the story reported. “At that time he owed $100 and his wife was ill. Not a cheerful outlook for a man looking for his first contract.”
Mr. Hinckley also enjoyed an active political career. He served as a state representative, a Tisbury selectman, a school board member, and was the Dukes County treasurer at the time of his death in 1939.
On Thursday morning the home center showroom was open, but outside bays once filled with lumber were almost empty. A large “Open” flag flew outside the front door of the Ace hardware store. Inside, Liz Cosgrove, granddaughter of Herbert N. Hinckley, was behind the counter, answering phones and helping customers.
Ms. Cosgrove also said the foreclosure sale of the business may not happen as scheduled.
“That’s probably not going to go through,” she said.
Comments
I really hope they can save
Dan EdhartownI really hope they can save Hinckley's! This would be such a great loss to the Community. Such a great family business all these years.... The first to help out.
Hinckleys has been a
Nelson Smith Oak BluffsHinckleys has been a wonderful business for many years. My uncle, Stanley Marshall, worked there for many years. I hope the Guythers can work things out. They are good people.
Hinckley is an island
GEORGE BROWN OAK BLUFFSHinckley is an island institution and I hope they survive.....you who owe them money pay your bills!!!
The slow demise of Hinckleys
Richard Toole Oak BluffsThe slow demise of Hinckleys has been very disruptive to so many of us contractors and homeowners. Being centrally located and staffed by very helpful and friendly employees they were a one stop shop for all things necessary to maintain and improve our homes and businesses.I hope Wayne and his family can bring it back to what it was a few years ago. If not I hope someone else can take this property and do what it takes to provide us with all the building and hardware supplies including plumbing and electrical we need to run our businesses and maintain our homes. Good luck, Richard
Do any of us recall the
Heidi Feldman Vineyard HavenDo any of us recall the bounced check wall of shame at Cronigs? Maybe a similar public tactic could be used to prompt those who own Hinckleys $1 Million to pay off their bills.
Or, since Martha's Vineyard Savings Bank his the mortgage holder perhaps they can step in and handle collections?
Sounds like what they need
Ben Vineyard HavenSounds like what they need most is for their customers to pay their bills on time.
this place needs torn down
jim Oak Bluffsthis place needs torn down and rebuilt.
I agree friendly helpful
Dan EdgartownI agree friendly helpful staff always willing to help.... it was a real Vineyard feel going in there.
Most of our homes have a piece of Hinkleys in them. I hope they can save the business. I hope MV savings has done all they can to help this business. This is what makes the Vineyard.
factoring the receivables (if
skip OBfactoring the receivables (if extant)at a quarter on the dollar may make be nice resource if someone can figure it out
I really hope MV Savings will
Dan EdgartownI really hope MV Savings will step up and try to help HN Hinckley...I hope all the great folks found employment on the Island...
I will miss the great people and having a real Hardware Store was so convenient and having a Plumbing store opened on Weekends was such a plus!!
Yea, I agree having the
Greg OBYea, I agree having the plumbing store was awesome and open on Sundays... I would go in there on several occcasions on a Sunday to fix a toilet seat or in need of some gas advice on hooking up a stove....
Maybe Hinckley's can give the
charlie callahan so boston/edgartownMaybe Hinckley's can give the Gazette a list of the REPUTABLE PEOPLE who owe them money and are helping to force nice folks out of their 100 year old business.
It's a darn shame....and to
Lower Cape Guy HarwichIt's a darn shame....and to make things worse....I believe the Hinckley's in Harwich destine for a similar fate.
It is a shame! Hinkley's I
Lewis OBIt is a shame! Hinkley's I believe On the Cape are a different Company.. maybe at one time same family.....
I do see Hinkleys from the Cape in Island making deliveries ..,
I was so impressed by Patrick
Lucy Scanlon Chilmark and CambridgeI was so impressed by Patrick Crosgrove’s knowledge, ingenuity, and kindness when he cobbled together for me a way to spray soda into my kiln at high temperatures. I had been exhausting myself pumping the solution from a garden sprayer, as sweat made my protective glasses and respirator slide off my face. He advised me to get a Sears “paint pot”, hooked up to a compressor, and he attached the garden spraying wand onto the line from the pressurized pot in a way which held up for years - longer than my arthritic back has held up. Thank you, Patrick! And thanks also to your kind wife. May the situation be resolved!
Wayne is a great person and
Carol Meikle EdgartownWayne is a great person and a incredibly wonderful boss. I worked for him for over five years and yes there was a lot of large debtors. Please if you know you are one of those debtors please pay up. This company does not deserve to go out this way. Good luck Wayne, I will keep you in my prayers.
It's a shame. It's a shame
Anonymous TisburyIt's a shame. It's a shame that those people that owe him money haven't paid. Heidi, we all know who they are and many contractors have dropped some of those subs from doing their jobs. Karma. I do hope Wayne remains, it would be a shame to see this reach the conclusion that many of us fretted for years.
The bank is in business to make money, not sure how much they'll stick their necks out for this property but it would be a shame if Hinkley's continued the same as the past. You can not survive in the 21st century on this island with past practices. We now have Specialty Builders Supply in town that can take up much of the slack but I just don't see how Hinkcley's can survive in this current environment. We're in a building boom and this place has basically zero product because they don't have credit with suppliers. Afraid we're looking at closure people.
So sad to read this article.
Margaret Vero BeachSo sad to read this article. I will say a prayer to God that this family business receives the money that they are owed. Seems this business was here for you all in your time of need.
I have worked in the Banking
Jim OBI have worked in the Banking business for many years... it would be in the best interest for all if MV Savings to work out a plan.... but who really knows the circumstances....i hope they have made all reasonable attempts.
What is happening to the Island .....Bingo/Gambling - Pot Factory in West Tisbury.....
My family has depended on
Liz S OB/New RochelleMy family has depended on Hinkley's knowledge and great service for more than 50 years.
It is disheartening to see what happens when you take advantage of Hinkley's island kindness and and stiff the guy who helped you out! I hope people will step up and pay.
I have been a customer of
Bob Fuller ChilmarkI have been a customer of Hinckley's for over 25 years. I have had a great experience as a customer with Hinckley's as well as knowing that I could always count on Wayne to make donations to worthy causes whenever I had asked him for donations for various charities. A very generous man. Business owners like Wayne deserve better treatment than the threat of foreclosure from a lender that has prospered by Vineyard businesses.
How do you know whether the
Rosiegirl Oak BluffsHow do you know whether the financial system worked with him or not? Why aren't you angry at all the customers that didn't pay their bills!
Maybe the gazette doesn't
charlie callahan so boston/edgartownMaybe the gazette doesn't want to print any comments about the bank, but the bank already put Hinkleys up for auction. So much for any help from the bank. It's all about the buck.
Totally unacceptable that an
Retired Builder West TisburyTotally unacceptable that an island institution and a generous, decent man like Wayne Guyther is getting stiffed so badly. (Especially in the midst of a building boom!) I say take the gloves off. How about notifying the swindlers - at least the most flagrant ones - that unless they settle accounts immediately, their overdue debts will be published in the newspapers. I mean, wouldn’t that motivate you? It sure as heck would make me find the money in a hurry.
A bunch of great guys,
Heavy user Oak BluffsA bunch of great guys, totally Vineyard. I used them daily when I rehabbed my house from the bottom up. I never did apply for their store account as it seemed to require you to pay in full each month which did not work for me. Not sure how so much could be run up if that was in-fact the rule. Going to miss the staff. They really understood Karma and going the extra mile for the customer. All the best.
Excellent Company to
Builder EdgartownExcellent Company to businesss with! I hope they can resolve there issues and get back on track.... celebrate with a tool day cookout!
Wayne has been to nice and
Trusted Builder TieburyWayne has been to nice and trusting over the years so this is his fate. I hope he files a lien on those that owe him without hesitation, if he hasn’t already. That being said, a business this size should not be vulnerable to only a million in receivables. Also, many builders have gone elsewhere so getting them back may not be so easy. I wish Wayne the best, such a quality person
When Martha's Vineyard loses
Lloyd Hart Oak BluffsWhen Martha's Vineyard loses a lumberyard that is not a sign of recovery. Another business killed by the Martha's Vineyard/Nantucket ferry reservations system choking the islands to death for the summer sanctity of the world's filthy rich. We need to thank Wayne for keeping everyone employed as long as he could.
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