True Value files for bankruptcy as Do it Best bids to acquire assets
Long-time hardware retailer True Value announced Monday it has filed for Chapter 11 bankruptcy and is entertaining a bid to sell its assets to competitor Do it Best.
Major National Hardware Chain Files for Bankruptcy
True Value Hardware, the iconic hardware store we all grew up with, has just filed for Chapter 11 Bankruptcy. It’s happening time and time again. Companies are having to shut down locations, even entire companies,
True Value declares bankruptcy and sells itself to a hardware rival
True Value said it faces a significant cash crunch as the housing market stalled and consumers have become far more picky about discretionary purchases like hardware.
True Value files for bankruptcy after 75 years, selling to hardware rival Do it Best
Hardware wholesaler True Value has filed for bankruptcy amid plans to sell its business to its home improvement rival Do It Best.
True Value files bankruptcy, but customers will notice few changes at central Iowa stores
Central Iowa's five independently owned True Value stores are unlikely to feel direct effects from the chain's bankruptcy
Chicago-based True Value hardware files for bankruptcy, agrees to sell to Do it Best
But the hardware retailer's 4,500 member stores are independently owned and will continue day-to-day operations.
True Value files for bankruptcy. What customers should know
True Value, which sells a variety of home improvement goods like tools, lumber and plumbing, said in bankruptcy court filings that it has succumbed to slumping sales that have affected other companies in the sector.
True Value files for bankruptcy: Will Oklahoma stores be affected? What to know
Reuters reported that the 75-year-old company initiated the proceedings to enter into an agreement with Do It Best, which has offered to pay $153 million in cash to purchase the business.
Hardware wholesaler True Value files for bankruptcy after 75 years in business
True Value said in a news release it will continue its day-to-day operations serving 4,500 independently owned retailers while going through the voluntary Chapter 11 proceedings.
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