Wholesale hardware supplier True Value has filed for Chapter 11 bankruptcy, aiming for a sale to rival Do It Best by year-end. The independently owned True Value retail stores will remain unaffected, with the wholesaler continuing to supply products to over 4,000 locations. True Value reported between $500 million and $1 billion in liabilities. Do It Best has agreed to buy True Value’s assets for over $100 million, with the option for higher bids remaining open.
