Yesterday, True Value declared bankruptcy in the US. For the time being their stores will stay open, but I’m curious to what will happen to the Kuwait store if they do end up closing down. Although I prefer Ace Hardware since they carry more of the things I need day to day, I’m still a big fan of True Value and like having them as an option. I especially like that they have a location in Salmiya since it’s very convenient for me. Actually, I feel lucky that I have 2 Ace Hardwares and a True Value near my place, only thing missing really is Binnisf and I’ll be set. Anyway, hopefully the bankruptcy doesn’t affect us here in Kuwait.
10 replies on “True Value declares bankruptcy”
Noooooo.
I get my towels, bed sheets and kitchenware from them.
Affect
thanks
CNN says that after the filing, rival store Do It Best will acquire them. Which means operations will probably continue as usual.
Where is the second ACE in Salmiya, Mark? I am only aware of the Boulevard location.
second ace is in Hawally, I live between the Hawalli and boulevard location 😀
yes true,l like true value many items r much cheaper than Ace and gd quality, hope they close in kuwait
If it’s a franchise then nothing will happen, True Value USA will continue to collect royalty fees and any where else in the world will operate normally.
I don’t think thats true. As a company, true value strikes the deals with the different brands, if Kuwait is cut off from the mother company which no longer exists, it means it would need to make all the deals and negotiate all the prices which most likely would be higher since the brand isn’t ordering for hundreds of stores but for 3 locations only. Not only that, if the local company isn’t getting support from the mother company then they no longer need the true value brand.
when the main company disappears so will the local shops. Happened with other brands for example when Teavana got bought out, they shut down here. Same with Topshop, when they went into administration, they closed down in Kuwait.
True Value was good back in the day until they started selling things from China and had to label all goods that weren’t True Value related. Now the shelves have clear labels on where the items are made, mostly from China which made the store go down.