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True Value, a well-known hardware store brand with a 75-year history, has filed for Chapter 11 bankruptcy as it faces increasing financial pressure from a slowing housing market. The Chicago-based company announced today that it is selling its operations to rival hardware chain Do It Best while continuing its day-to-day operations during the bankruptcy process.
Hardware store brand True Value is filing for bankruptcy. Brian Shook has more.
In court filings, True Value executives cited tightening financial conditions as consumer demand for home improvement and hardware products wanes. The slowdown in the housing. . .
