Hardware Retailing The Industry's Source for Insights and Information
On Monday, Nov. 4, True Value sent a notification to vendors and retailers, stating that it was temporarily suspending its drop ship program to remain focused on primary business during the bankruptcy case and sale to Do it Best. (In full disclosure, NHPA, which publishes Hardware Retailing and Paint & Decorating Retailer magazines, is a vendor of True Value and received this letter.)
According to the letter, True Value will temporarily restrict direct ship orders that would be billed Nov. 4-22, which will enable True Value to build warehouse inventory in the short term and enhance seasonal fill-rates heading into winter and spring. Direct ship billings through True Value will be fully available after Nov. 22, and any orders with ship dates past Nov. 22 will be honored in full.
“Because Do it Best likely will be acquiring our assets and combining our business with theirs in the next few weeks, we think it makes sense to send your direct ship business to them as the right choice to handle that business until our sale transaction is completed,” the message stated. “Of course, the decision on how to meet your direct ship needs during this time is entirely up to you and what makes sense for your business.”
Follow along with all of the True Value bankruptcy and sale news:
- True Value and Lenders Reach Milestone Agreement Moving Sale to Do it Best Forward
- True Value RDCs Prepare for Potential Shutdown
- Judge Shares Concerns With Direction of True Value Bankruptcy Filing
- Bankruptcy Judge Allows True Value to Use Cash Collateral While Lenders Push Back
- Industry Reacts to True Value Bankruptcy and Potential Sale to Do it Best
- NHPA Offers Tools, Reassurances to Retailers Potentially Impacted by True Value Bankruptcy
- Do it Best CEO Adds New Insights to True Value Purchase Plans
- True Value Files for Chapter 11 Bankruptcy, Do it Best Bids to Acquire Assets
