Major Home Depot Competitor Closing Doors + Laying Off 82 People

Back in October of 2024, True Value Hardware declared Chapter 11 bankruptcy, as their locations and brand were going through some down times.

The majority of the company and its likeness were sold at the time to Do it Best Corporation, with the promise that everything that’s open will remain open.

Well … sometimes promises get broken.

According to Cleveland.com, a major True Value distribution center in Ohio put out a notice that 82 employees are facing layoffs at the 400,000-square-foot facility, which has been open since the 1970s.

That facility will cease to exist after April 2025, when the layoffs will occur. The facility was valued at more than $11 million, so if they decide to sell that land, they can surely benefit from that.

True Value has been a staple in American culture for more than 75 years, and they offer a smaller setting to purchase home improvement items at similar or cheaper prices than Home Depot and Lowe’s.

It began to get harder and harder for the smaller national chain of hardware stores to compete with the big box chains, thus forcing the Chapter 11 bankruptcy filing and subsequent sale of True Value Hardware.

According to TrueValueCompany.com, there are more than 4,000 True Value locations across America that still exist and are open for business.