Hardware Chain with 38 Illinois Locations Declares Bankruptcy

There's news from a major hardware store chain that has 38 Illinois locations that could be bad news and good news at the same time. The bad news is the chain is now in bankruptcy, but there could be a light at the end of the tunnel.

I saw BNN Bloomberg report that True Value Hardware Stores is in bankruptcy now. That could be bad news for the 38 Illinois locations of the chain according to the True Value store locator site.

So how is this good news for Illinois True Value stores maybe?

The BNN Bloomberg story says that True Value is being sold to a rival brand Do It Best. Instead of store closings, it's entirely possible that the existing Illinois stores will just get a rebrand instead, but that's just speculation at this point as there is no solid word on what Do It Best will do with this buyout. It's also possible they'll liquidate True Value Stores and just move the inventory over to their existing brand locations.

As this is a developing story, it will be updated once new information is provided about what this will mean for the Illinois True Value stores many of us grew up with.