True Value files for bankruptcy after 75 years, blames weak housing market for plunging sales
Hardware and lumber wholesaler Do it Best is the stalking horse bidder and has agreed to pay $153 million in cash for the sinking company, according to a court filing.
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.
Hardware wholesaler True Value files for bankruptcy, plans sale to rival
Wholesaler True Value filed for bankrtupcy Monday and announced its plans to sell to rival Do It Best. True Value retail stores are not included in the bankruptcy.
Do it Best Makes Bid to Acquire True Value Assets
Do it Best, the nation's largest member-owned co-op for hardware and lumber products, announces its bid to acquire substantially all assets from True Value, a Chicago-based hardlines wholesalers that filed for Chapter 11 bankruptcy under private equity ownership.
True Value files for bankruptcy in order to sell itself to rival
The bidder offered to pay $153 million in cash, according to the bankruptcy filing. “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,
Do it Best bidding to buy True Value out of bankruptcy
A successful acquisition of True Value assets would represent a strategic milestone for Do it Best and home improvement retailers around the world,” said Dan Starr, Do it Bes
True Value declares bankruptcy, plans to sell assets to rival Do it Best
True Value, a 75-year-old hardware retail brand, has filed for bankruptcy and plans to sell itself to industry rival Do it Best Corp.
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