Kennardo G. James

This Chicago-Based Hardware Company Chain Has Filed for Bankruptcy

8 hours ago

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According to a new report by Yahoo News, a Chicago-based Hardware company chain has filed for bankruptcy after 75 years. According to the report, True Value has filed for Chapter 11 bankruptcy and is "selling substantially all of its operations to its rival" - Do it Best.

The company released a statement saying, "After a thorough evaluation of strategic alternatives, we determined that the sale of our business was the path forward to maximize value and best serve our retail partners and other stakeholders into the future".

The transaction between True Value and Do it Best is expected to be completed by the end of this year.

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