True Value Company is an American hardware store founded in 1948 and headquartered in Chicago, Illinois. It sells home improvement goods and hardware supplies and has over 4,000 independently owned stores across the U.S. and globally.
According to reports, True Value has filed for Chapter 11 bankruptcy protection due to challenges caused by inflation and rising interest rates, and as part of a larger plan to sell its operations to its competitor, Do It Best, for $153 million USD.
The report further mentions that its stores will continue operations during the bankruptcy filing, as they are run independently and are not part of the bankruptcy process.
Do It Best Corp. is a member-owned hardware cooperative founded in 1945 and headquartered in Fort Wayne, Indiana. It is the second-largest co-op in the industry with over $5 billion in annual sales, and serves over 3,000 independently owned stores across the U.S. and internationally.
