True Value, a hardware store brand, filed for Chapter 11 bankruptcy and sold almost all of its operations to a competitor.

The home improvement sector has struggled with financial distress this year, leading iconic retail chains to file for bankruptcy and close stores, or in one case, just close all stores and not file bankruptcy.

The long-standing home-improvement wholesaler says its 4,500 locations will stay open as the company sells its operations to rival Do It Best.