Doug Miller named interim CEO for Handy Hardware
Greenwhich, Conn.-based Littlejohn & Co. received court approval to acquire Houston-based Handy Hardware Wholesale out of bankruptcy.
Doug Miller, former president of Jensen Distribution, will take over as interim CEO of Handy Hardware.
"This is an important milestone for the future growth of Handy Hardware and I am pleased to lead this organization, which has enjoyed outstanding support and loyalty from its members and industry partners," Miller said.
The transaction was approved yesteday by the U.S. Bankruptcy Court for the District of Delaware and is expected to close early in August — before Handy’s Aug. 15-17 dealer market slated for San Antonio. "We are expecting near record member attendance," said Miller.
Handy Hardware was a 1,300-member regional co-op when it filed for Chapter 11 bankruptcy in January 2013. With the loss of member equity, the company had dropped its co-operative structure and faces the future as a for-profit distributor.
"Handy Hardware provides critical value to independent, single and multi-store hardware customers, and with this transaction it will have a solid financial foundation from which to build a stronger future," said Steven Raich, managing director of Littlejohn.
Budget Blinds brings in-home consulting to Silver Spring
Budget Blinds, an in-home window covering consultancy and installation service, will be bringing its wares to the Silver Spring, Maryland and metro D.C. area. The company is expanding its services in partnership with A Few Cool Hardware Stores, a group of Ace dealers in Washington D.C.
Budget Blinds brings its showroom to its customers, allowing them to shop for selections within their own homes. After finding a good match for the customer’s existing decor, Budget Blinds consultants perform measurements, order the necessary products, and professionally install them in the customer’s home.
"Our decision to partner with Budget Blinds of Silver Spring started with customer demands for an affordable blind solution," said Courtney Smith, marketing manager for A Few Cool Hardware Stores, in an email. "We know our customers take pride in their homes and wanted to offer a service that catered to their needs for personal design without breaking the bank on specialty blinds."
The five local Ace locations will feature an in-store Budget Blinds component that will offer customers consultation information, advice and a free design guide.