By: Ryan Duey

In a press release issued by True Value Company on October 14th, the company announced that True Value and some of its affiliates have voluntarily filed for Chapter 11 bankruptcy.  Do it Best has entered into an agreement to purchase True Value, sparking the voluntary filing. 

While Wall’s True Value in Clay Center carries the True Value name it is an independently owned Company. Todd Slagle, Owner of Wall’s True Value, said the bankruptcy should have little effect on the store.

“Our finances and True Value Corporate finances are not intertwined other than the fact that we buy things from them and pay them for it. So, we are in fine shape. Shipments should not be interrupted. Do it Best just agreed to put an influx of cash into True Value Corporate to ensure that vendors are paid, and the supply chain is intact going forward, so we have no worries about our future. We’re not sure if we’ll be True Value or we’ll be Do it Best, but we will be Wall’s hardware at least.”

Slagle said business is good and they’re going strong. Wall’s is open seven days a week in downtown Clay Center.