Hardware wholesaler True Value files for bankruptcy, plans sale to rival

Wholesale hardware supplier True Value has filed for Chapter 11 bankruptcy and is aiming to be sold by the end of the year to rival Do It Best.

True Value retail stores, which are independently owned and operated, are not part of the bankruptcy, and the wholesaler said it will continue to supply products to those 4,500 locations. The iconic brand has been around for 75 years. ---More...