True Value said it has filed motions with the bankruptcy court to continue paying wages and benefits to its employees, as well as offer support programs for customers. The company aims to complete its sale to Do it Best by year-end. True Value serves more than 4,500 stores worldwide with total retail sales of $10 billion, according to the company.

Hardware wholesaler True Value has filed for bankruptcy amid plans to sell its business to its home improvement rival Do It Best.

Long-time hardware retailer True Value announced Monday it has filed for Chapter 11 bankruptcy and is entertaining a bid to sell its assets to competitor Do it Best.

True Value has filed for bankruptcy, joining a line of other retailers with Ohio locations to make the financial move. Here's how that affects Ohio.

The bidder offered to pay $153 million in cash, according to the bankruptcy filing. “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,

True Value filed for Chapter 11 bankruptcy on Monday and is seeking to sell the 75-year-old business to a rival — the latest hardware company to succumb to a weak housing market, the company said. The Chicago-based company said it would continue day-to-day operations at its 4,

Wholesaler True Value filed for bankrtupcy Monday and announced its plans to sell to rival Do It Best. True Value retail stores are not included in the bankruptcy.

True Value, a well-known home improvement company, entered into a sale agreement early Monday morning after filing for Chapter 11 bankruptcy.