With the marginal consumer now cutting back in sharp contrast to the heady days of the pandemic spending spree, we’re likely to see more of this in the future.
True Value, the hardware retailer based in Chicago, has filed for Chapter 11 bankruptcy and agreed to sell itself for $153 million to Do it Best Corp., the home improvement company based in Fort Wayne, Indiana, according to court filings.
its consolidation.
true to form, the capitalist very long term natural competitive inclination is to ‘go big or go home’. the result l predict is world wide oligarchies that are the final stage of capitalism.
it will mark the success of the WEF, we WILL own nothing but the clothes on our back everything else, transportation, housing, electronics, tools of the trade, appliances its ALL rented or leased or part of a ‘package’.
heck, when they REALLY get going you WONT be able to buy anything because
-currency is digital, and
no one owns anything to sell anyway.
Yes, it would be so much better if the government owned everything.
Rusty
Remember Jean-Claude Parrot?
When email was first introduced, Jean-Claude wanted all emails to be routed to the post office, where a postie would print them, stuff them in envelopes, and then mail them.
ha ha ha !!! oh gawd l remember those ‘heady days for CUPW’.
their other favorite slogan was ’40 for 30′ ie 40 hours pay for 30 hours work.
and my neighbor at the time Mel the letter carrier with a pool who came home at 2 pm (l worked rotating shifts saw a lot of stuff happen throughout the day) and hive off with his golf clubs.
l both admired parrot for his stubbornness and saw the end coming for a lot of the membership.
They are bent on destroying the ONE primary way the middle class can improve their lot in life … home ownership. By definition… that IS the American Dream. Home ownership. Take that away … and the vast majority Americans are dependent plebes. Compliant plebes. Trampled plebes.
That is ok, just hope you are healthy enough to take it from those who took it from you.
“They” really do not know history.
There must be a debt consolidation going on.
“True Value on Monday filed for voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. The 75-year-old brand will continue to pay vendors and employees and provide benefits.”
Otherwise they wouldn’t have to go through bankruptcy to sell. Borrowing due to cash flow problems or borrowing to grow and accumulated too much debt.
I just had to pay $1.15 ea. … EACH … for a 1-1/4” white tipped screw at Ace Hardware. 9 screws … NINE little screws cost me more than $10.00 !!! I guess it’s the cost of energy to fabricate and ship these little tiny screws that has run up the cost.
True Value Hardware simply didn’t charge enough for 1-1/4” screws. But Ace Hardware happily screwed me.
That’s an accurate description of ACE.
Used to be the place for that one little screw or nut, ten cents in a plastic bag, guided there by a wise old man who instantly knew which of the thousands of drawers to look inside.
My last trip to Ace saw me pay $15 for a furnace filter that would have cost $6 at home depot, sent to the wrong aisle by 20yo hog ringed green hair who never leaves the register.
Don’t they make these things in Communist China by slave labor with no environmental regulations!? Where’s my Globalism “Free Trade” dividend!? Seems we’re getting “screwed” coming and going!
Rona+ only sells 3M furnace filters (NE Calgary), all overpriced.
Even thrift stores are jacking prices.
I’ll keep driving decades old cars and motos. Digital add-ons are just inflation.
That headline is quite misleading. True Valu’s WHOLESALE operation has filed for bankruptcy. This will not affect their actual hardware stores.
Most urban kids have rarely used a screwdriver and can barely hang a picture on the wall, as many baby boomers or their offspring never learned useful skills.
Abel children with good skills soon evaporate into useless universities and get “greenized” or moly-coddled.
7-11, Walgreens, Tru Value, Boeing. They’re all just having a bad week.