Hardware Wholesaler True Value Files for Bankruptcy, Plans Sale to Rival

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True Value retail stores, which are independently owned and operated, are not part of the bankruptcy

True Value, which sells hardware, tools, lumber, plumbing and heating supplies, and other home improvement goods, has between $500 million and $1 billion in total liabilities, according to its Chapter 11 petition in Delaware bankruptcy court.

“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,” said Chris Kempa, True Value’s CEO.

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