The home improvement sector has struggled with financial distress this year, leading iconic retail chains to file for bankruptcy and close stores, or in one case, just close all stores and not file bankruptcy.

Wholesaler True Value filed for bankrtupcy Monday and announced its plans to sell to rival Do It Best. True Value retail stores are not included in the bankruptcy.

True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday.

Hardware wholesaler True Value Company LLC filed for bankruptcy on Monday, seeking to sell its business to rival Do It Best for $153 million.

Wholesaler True Value Co. filed for bankruptcy in Delaware on Monday as it seeks to sell its business to rival Do it Best Corp.

The bidder offered to pay $153 million in cash, according to the bankruptcy filing. “After a thorough evaluation of strategic alternatives, we determined that the sale of our business was the path forward to maximize value and best serve our retail partners and other stakeholders into the future,