Reported about 2 months ago
True Value, a 75-year-old hardware brand, has declared bankruptcy and is selling most of its operations to rival Do it Best, with a $153 million bid. The company will continue its daily operations during the Chapter 11 process, keeping its 4,500 stores open. True Value faces financial challenges due to a sluggish housing market and increased consumer selectivity, while larger competitors remain financially resilient.
Source: YAHOO