True Value stores in the Philippines remain open and are committed to serving customers despite the Chapter 11 bankruptcy filing by True Value Company L.L.C. in the United States.
Robinsons Retail Holdings Inc. (RRHI) said in a statement True Thursday Value Philippines is independently owned and operated by its subsidiary Robinsons True Serve Hardware Philippines Inc. (RTSHI).
“It is still business as usual for all True Value stores in the Philippines. All stores remain open and ready to serve our shoppers with the same commitment to quality that has made True Value Philippines a trusted name in home improvement,” RRHI said.
True Value Company, founded in 1948 and headquartered in Chicago, began as a hardware cooperative before transitioning into a hardware wholesaler in 2018. The company, which operates a global network of 4,500 independently-owned True Value stores, filed for voluntary Chapter 11 bankruptcy protection in Delaware on Oct. 14, 2024.
This move came as part of a strategic plan to sell substantially all of its business to Do it Best Corp. based in Fort Wayne, Indiana.
“The sale agreement between the True Value Company and Do it Best is a welcome development with the potential to unlock new synergies,” said Theodore Sogono, Robinsons Retail DIY Segment Group general manager.
“As a member of Do It Best through our Handyman banner since 2001, this transition creates growth opportunities that will allow us to continue delivering the quality and value that our shoppers expect while also benefiting from an expanded network of suppliers and a broader range of products,” he said.
