Trump Blamed For ANOTHER Major Business Failure

[Yak]

True Value, a 75-year old hardware store brand, has filed for bankruptcy
and is selling substantially all of its operations to a rival, the company
announced Monday.

In a press release, True Value said it will continue day-to-day operations
of selling hardware and other homeware tools to its 4,500 independently
operated locations during the Chapter 11 process, which includes a $153
million stalking horse bid from rival company Do it Best.

True Value said its stores will remain open, because they are not part of
the bankruptcy proceedings.

In bankruptcy court filings, True Value said it faces a significant cash
crunch as the housing market stalled and consumers have become far more
picky about discretionary purchases like hardware. Bigger rivals like Home
Depot and Lowe’s have also been in a yearslong slump since the pandemic
boom, but they remain in a significantly stronger financial situation than
True Value.

Still, a number of other chains have voiced similar problems that also
tipped them into bankruptcy, including Big Lots and LL Flooring.

“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
True Value CEO Chris Kempa in a release.

Do it Best is a member-owned wholesaler that sells hardware, lumber and
other home goods to independent stores.

“Do it Best has a proven track record of driving profitability through the
most efficient operations in the industry,” said Do it Best CEO Dan Starr
in a statement. “This acquisition, if consummated, would provide True
Value and independent hardware stores the strongest opportunities for
growth for years to come.”

The transaction with Do it Best is expected to close by the end of the
year, unless there’s better offers.

For more CNN news and newsletters create an account at CNN.com

https://finance.yahoo.com/news/true-value-declares-bankruptcy-sells-
174128698.html

[badgolferman]

Post by Yak
Do it Best

We have one of these stores in my town. I've stopped shopping there
because they don't consider veterans as military and won't give us the
military discount. I've written to corporate a few times and only ever
receive automated repies stating they received my message. Sometimes
the employees give veterans the military discount, but even they've
been warned by corporate to not do that.

[Frank]

Post by badgolferman

Post by Yak
Do it Best

We have one of these stores in my town. I've stopped shopping there
because they don't consider veterans as military and won't give us the
military discount. I've written to corporate a few times and only ever
receive automated repies stating they received my message. Sometimes
the employees give veterans the military discount, but even they've
been warned by corporate to not do that.

Both True Value and Ace here have given a 5% senior discount to me. I
have a closer Community Hardware store that gives a senior discount of 10%.

Vet friend of mine talks about jumping through hoops to get vet
discounts at Home Depot.

[badgolferman]

Post by Frank

Post by badgolferman

Post by Yak
Do it Best

We have one of these stores in my town. I've stopped shopping there
because they don't consider veterans as military and won't give us
the military discount. I've written to corporate a few times and
only ever receive automated repies stating they received my
message. Sometimes the employees give veterans the military
discount, but even they've been warned by corporate to not do that.

Both True Value and Ace here have given a 5% senior discount to me.
I have a closer Community Hardware store that gives a senior discount
of 10%.
Vet friend of mine talks about jumping through hoops to get vet
discounts at Home Depot.

Ace, Lowe's and Home Depot all provide 10% military discounts. Lowe's
even has marked parking spots for veterans. With Lowe's and Home Depot
you have to register online for the veteran discount. At Ace you just
show a driver license or VA ID card. We don't have True Value around
here, but I assume since they've been bought out by Do-It they will
have to follow the same ploicy. Veterans who've already served are
considered second rate to military retirees, active and retired.

[Frank]

Post by badgolferman

Post by Frank

Post by badgolferman

Post by Yak
Do it Best

We have one of these stores in my town. I've stopped shopping there
because they don't consider veterans as military and won't give us
the military discount. I've written to corporate a few times and
only ever receive automated repies stating they received my
message. Sometimes the employees give veterans the military
discount, but even they've been warned by corporate to not do that.

Both True Value and Ace here have given a 5% senior discount to me.
I have a closer Community Hardware store that gives a senior discount
of 10%.
Vet friend of mine talks about jumping through hoops to get vet
discounts at Home Depot.

Ace, Lowe's and Home Depot all provide 10% military discounts. Lowe's
even has marked parking spots for veterans. With Lowe's and Home Depot
you have to register online for the veteran discount. At Ace you just
show a driver license or VA ID card. We don't have True Value around
here, but I assume since they've been bought out by Do-It they will
have to follow the same ploicy. Veterans who've already served are
considered second rate to military retirees, active and retired.

I believe my friend was complaining about the on line registration
giving him troubles.

Googling I see Ace now offers 10% senior discount. Probably a good idea
to check before shopping like I see seniors get 20% at Walgreens first
Tuesday of every month. Our Acme has a 5% every Tuesday. I have gone
to self checkout at Acme on Tuesdays to have clerks come up and swipe a
card that give me the discount.

Not sure you can get double discounts as both veteran and senior but
would not hurt to try.

[Jim Joyce]

Post by Frank

Post by badgolferman

Post by Yak
Do it Best

We have one of these stores in my town. I've stopped shopping there
because they don't consider veterans as military and won't give us the
military discount. I've written to corporate a few times and only ever
receive automated repies stating they received my message. Sometimes
the employees give veterans the military discount, but even they've
been warned by corporate to not do that.

Both True Value and Ace here have given a 5% senior discount to me. I
have a closer Community Hardware store that gives a senior discount of 10%.
Vet friend of mine talks about jumping through hoops to get vet
discounts at Home Depot.

Home Depot and Lowes are both easy to work with. You do a one-time registration
at their respective web sites where they verify that you're an eligible vet,
then you just provide your phone number during check-out. You can also receive
the 10% military discount on online orders.

[micky]

In alt.home.repair, on Thu, 17 Oct 2024 11:12:03 -0000 (UTC),

Post by badgolferman

Post by Yak
Do it Best

We have one of these stores in my town. I've stopped shopping there
because they don't consider veterans as military and won't give us the
military discount.

I'm thinking maybe it's because there are lots of veterans compared to
the number of active military. And active military get their tools and
materials from the government. They're not building things, remodeling,
or doing lots of projects on their own dime like vets do. . So a
discount to vets would cost a lot more. This way they get the public
relations for giving a military discount but uuntil it affects you, most
people won't notice that's active only.

Post by badgolferman
I've written to corporate a few times and only ever
receive automated repies stating they received my message. Sometimes

What can they say? What I just said would sound bad. :-)

Post by badgolferman
the employees give veterans the military discount, but even they've
been warned by corporate to not do that.

[Ketanji Kornrows]

Post by Yak
True Value, a 75-year old hardware store brand, has filed for bankruptcy
and is selling substantially all of its operations to a rival, the company
announced Monday.
In a press release, True Value said it will continue day-to-day operations
of selling hardware and other homeware tools to its 4,500 independently
operated locations during the Chapter 11 process, which includes a $153
million stalking horse bid from rival company Do it Best.

I can order from Amazon Prime, take a nice long nap and when I wake up
it's in my delivery box...

-or-

I can drive around, burn up a couple gallons of gas trying to find the
item locally.

[pothead]

Post by Yak
True Value, a 75-year old hardware store brand, has filed for bankruptcy
and is selling substantially all of its operations to a rival, the company
announced Monday.

Of course it's because of Trump.

Post by Yak
In a press release, True Value said it will continue day-to-day operations
of selling hardware and other homeware tools to its 4,500 independently
operated locations during the Chapter 11 process, which includes a $153
million stalking horse bid from rival company Do it Best.
True Value said its stores will remain open, because they are not part of
the bankruptcy proceedings.
In bankruptcy court filings, True Value said it faces a significant cash
crunch as the housing market stalled and consumers have become far more
picky about discretionary purchases like hardware. Bigger rivals like Home
Depot and Lowe’s have also been in a yearslong slump since the pandemic
boom, but they remain in a significantly stronger financial situation than
True Value.
Still, a number of other chains have voiced similar problems that also
tipped them into bankruptcy, including Big Lots and LL Flooring.
“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
True Value CEO Chris Kempa in a release.
Do it Best is a member-owned wholesaler that sells hardware, lumber and
other home goods to independent stores.
“Do it Best has a proven track record of driving profitability through the
most efficient operations in the industry,” said Do it Best CEO Dan Starr
in a statement. “This acquisition, if consummated, would provide True
Value and independent hardware stores the strongest opportunities for
growth for years to come.”
The transaction with Do it Best is expected to close by the end of the
year, unless there’s better offers.
For more CNN news and newsletters create an account at CNN.com
https://finance.yahoo.com/news/true-value-declares-bankruptcy-sells-
174128698.html

[micky]

In alt.home.repair, on Thu, 17 Oct 2024 12:48:05 -0700, pothead

Post by pothead

Post by Yak
True Value, a 75-year old hardware store brand, has filed for bankruptcy
and is selling substantially all of its operations to a rival, the company
announced Monday.

Of course it's because of Trump.

Absolutely.

The Subject line says so.

Post by pothead

Post by Yak
In a press release, True Value said it will continue day-to-day operations
of selling hardware and other homeware tools to its 4,500 independently
operated locations during the Chapter 11 process, which includes a $153
million stalking horse bid from rival company Do it Best.
True Value said its stores will remain open, because they are not part of
the bankruptcy proceedings.
In bankruptcy court filings, True Value said it faces a significant cash
crunch as the housing market stalled and consumers have become far more
picky about discretionary purchases like hardware. Bigger rivals like Home
Depot and Lowe’s have also been in a yearslong slump since the pandemic
boom, but they remain in a significantly stronger financial situation than
True Value.
Still, a number of other chains have voiced similar problems that also
tipped them into bankruptcy, including Big Lots and LL Flooring.
“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
True Value CEO Chris Kempa in a release.
Do it Best is a member-owned wholesaler that sells hardware, lumber and
other home goods to independent stores.
“Do it Best has a proven track record of driving profitability through the
most efficient operations in the industry,” said Do it Best CEO Dan Starr
in a statement. “This acquisition, if consummated, would provide True
Value and independent hardware stores the strongest opportunities for
growth for years to come.”
The transaction with Do it Best is expected to close by the end of the
year, unless there’s better offers.
For more CNN news and newsletters create an account at CNN.com
https://finance.yahoo.com/news/true-value-declares-bankruptcy-sells-
174128698.html