While fellow hardlines distribution organizations look to court True Value retailers amid the wholesaler’s bankruptcy and pending sale to Do it Best Corp., the latter has responded with a message of stability.
Do it Best said that it must remain independent from True Value until the transaction is finalized. However, to address product needs it has implemented a no-fee Do it Best application process which ensures orders are fulfilled within 24 hours.
“Despite all the news and headlines, it remains business as usual at Do it Best,” Do it Best President and CEO Dan Starr said in an Oct. 18 news release. “Business as usual means providing the full value of our sales team, distribution network, extensive vendor relationships and supply chain excellence to every dealer who wants to grow their sales. Our professional sales team is the best in the industry and are experts in identifying the right products and services to help drive retail success.”
In the release, Do it Best re-affirmed its commitment to customers and said that it will continue to “bring stability and to supply independent home improvement retailers with the least disruption.”
True Value announced it was pursuing a potential sale of the company in an Oct. 4 letter to vendor partners.
A little over a week later, the company said it had agreed to sell all of its operations to Do it Best Corp., with True Value starting Chapter 11 bankruptcy proceedings to facilitate the sale, and the company said it would continue day-to-day operations.
In the days following the agreement to purchase, Orgill and the Hardlines Distribution Alliance (HAD) issued press releases detailing how the companies would support retailers impacted by True Value bankruptcy and the potential sale, in an apparent attempt to convert True Value members to their organization.
For continued detailed coverage of True Value’s pending sale to Do it Best Corp., we recommend you follow Webb Analytics’ blog for it, authored by Craig Webb. Webb served as the key validator for the Building Materials/Construction vertical on MDM’s Top Distributors Lists.
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