True Value Co. issued a press release at 2 p.m. today saying it had “entered into an agreement to sell substantially all … business operations to home improvement industry peer Do it Best Corp.”
“To complete the sale in the most efficient manner, True Value and certain of its affiliates initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware,” the release said. “True Value will continue its day-to-day operations serving 4,500 independently owned retailers that rely on True Value for the right products, trusted expertise, and its 75-year-old iconic brand.”
Sarah McGoldrick
