Texas Hardware Wholesaler Seeks To Retool in Ch. 11

Law360, Wilmington (January 11, 2013, 10:16 PM EST) -- Drilled by rising costs stemming from an untimely expansion, Handy Hardware Wholesale Inc. headed for Chapter 11 protection in Delaware on Friday as the tool-buying cooperative looks to reorganize operations around its Houston headquarters.

Founded in 1961 by a group of independent hardware retailers who wanted to pool their buying power to help stock their stores, the Texas-based company grew substantially over the years but found itself bogged down by debt service and operational costs from the Mississippi warehouse it built in 2009, according to a...
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