Posted on 10/15/2024 6:41:04 AM PDT by Red Badger
Another long time business failing. The Biden/Harris administration is showing their True Value to America.
When I saw they wanted to be bought by a competitor, I had assumed Ace Hardware. DoIt Best is a small fish, unless they are huge in some part of the country I haven’t lived in. This is like when CapCities bought ABC.
Well, Ace IS the place with the helpful hardware man.
That was my first thought as well.
Never heard of Do It Right.............
BTW, I’m sitting on the other side of the wall of an Ace Hardware right this second..............
Eventually it will be bought out by some venture capital conglomerate.
How slow is the housing market now?
I see some for sale signs that have been up since spring.
Do it Best is the largest coop(buying group) in the lumber industry. The other large on is LMC(Lumbermans Merchandising Corp).
Do, Do It Best is a pretty big player when is comes to wholesaling things like OSB, Lumber, Plywood and other commodity building materials. Almost every independent lumber yard left in the USA is in one of these two buying groups.
It is hard to understand for me as a lumber broker how some company like True Value could go out of business. The mark up on hardware and other items like that is huge. Several hundred percent on most small hardware items. As opposed to lumber, OSB and plywood where the average wholesale margin is 3-4 %.
I didn’t know about Lumber Liquidators. We buy all our flooring from them. 😤
True Value is among a growing list of prominent retailers that have filed for bankruptcy in 2024.
Another Biden trade mark
Another long time business failing. The Biden/Harris administration is showing their True Value to America.
______________________________
Bidenomics proving its worthlessness every day. American mainstay business names fading into the ignominious history books.
Me too. I was expecting Ace Hardware to be the buyer.
Then again, why this week to announce bankruptcy? Why not wait until Nov 6?
Their stock got hammered form over $60 to under $10.
I guy in my office used to sell them Eastern White Pine flooring out of Maine.
Same story, they got too big, over leveraged and couldn't cover their debt.
The Do It Best near me gets twice the price for drywall than Lowes. Same with plumbing items. The lumber isn’t too bad. Propane refills are a good price. They morphed a few years ago. Brought in all new people and quit carrying some items. Nothing for fence except staples. No more fence wire, barbed or smooth. No cattle panels. This is cattle farming country. They’re going the way of a tiny home improvement store rather than good ole hardware store that used to serve farmers’ needs.
“Do it Best”...They are actually pretty widespread. Our southern IL town Lumberyard/Hardwaare store is a “Do it Best”.
predatory capitalism aka monopolism thy name is Home Depot.
We have a Rural King in town to satisfy that market.
So, you are ‘floored’?.....................🙄
That’s too bad. Their prices were good and we never got bad flooring. We are getting ready to install the last load we bought in our kitchen and we were going to buy all the flooring for our new rural home from them. I guess we’ll probably just buy for the new place from Lowes with Mr. GG2’s builder discount.
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