True Value Hardware Store Closes After 54 Years Amid Competition from Home Depot and Amazon

Home Depot rival Harpeth True Value Hardware is closing its Franklin, Tennessee store due to financial difficulties and the decline of its lumber business, which accounted for 70-80% of sales. The 54-year-old retailer has struggled to compete with Home Depot, Lowe's, and Amazon. Owner Mike Outlaw tried to sell the business but was unable to reach a sale agreement. Outlaw has not indicated any plans to file for bankruptcy protection.