Chicago, Illinois-based True Value Company, a hardware wholesaler, distributor, and franchisor, has filed for bankruptcy and plans to sell the company to Fort Wayne, Indiana-based Do It Best Corporation, a member-owned hardware, lumber, and building materials cooperative.
How many independently owned stores may be impacted and how many corporate employees are affected is unknown.
According to CEO Chris Kempa, “We believe that entering the process with an agreed offer from Do it Best, who has a similar decades-long history in the home improvement space and also operates with a focus on supporting members and helping them grow, is the most beneficial next step for True Value and our associates, customers, and vendor partners. We thank these valued stakeholders for their continued loyalty as we work to secure a stronger future for True Value.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?
