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True Value Hardware Store Officially Files for Bankruptcy and Sells to Unlikely Rival

Operations will remain open during the Chapter 11 process.

By Cassandra Yorgey

Edited by Laura Ratliff

Updated May 15, 2025

True Value hardware brand has filed for bankruptcy and plans to sell it all to a surprising rival. Operations for retail stores will remain open during the Chapter 11 process, so you'll still be able to shop there, for now.

Avoid the fate of bankruptcy by learning creative ways to crush your debt, and find out what happened to True Value and what their future will be.

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What caused the bankruptcy?

The hardware wholesaler has been unable to beat the cash crunch caused by the housing market crisis. Fewer people can afford homes, and those who can are more hesitant to spend money on less-than-necessary home improvement projects.

This has been a shared complaint in the home improvement hardware industry, tipping other brands into bankruptcy, too.

Big Lots and LL Flooring cited the exact root cause when they filed for bankruptcy earlier this year.

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History of the True Value brand

True Value began as a cooperative between four hardware companies and a wholesale supplier founded in 1948. Accounting irregularities were discovered in 1999, leading to a huge loss and plummeting stock prices.

At that point, many hardware stores chose to leave, transitioning to competition such as Ace Hardware or Do It Best.

The future of True Value

True Value currently has about 4,500 independently operated retail locations that will remain open through the bankruptcy process.

Rival hardware company Do It Best has submitted a $153 million bid to purchase the failing brand, which is expected to be completed by the end of the year — unless there are better offers.

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Bottom line

True Value is likely going to disappear and be transitioned into Do it Best, with final announcements expected to occur before the end of the year.

The brand wasn't able to weather the economic storm, which is still ongoing. Prepare your own finances to withstand further downturns of the economy.

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Cassandra Yorgey

Cassandra Yorgey is a writer for FinanceBuzz and journalist with more than 15 years of experience covering a multitude of topics ranging from science-fiction and fantasy genre reviews to the impacts of sociological developments on the political landscape. She champions financial literacy and consumer protections that value human life over monetary profits. She has been featured in both online and print publications, including AOL, Examiner, MSN, Exemplore, Yellowbook, and Wealth of Geeks.

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What caused the bankruptcy?

History of the True Value brand

The future of True Value

Resolve $10,000 or more of your debt

Bottom line

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Drawbacks

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