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Thriftway files for Chapter 11

BY HBSDEALER Staff

Thriftway, a one-unit lumberyard based in Owensboro, Ky., has filed for Chapter 11 bankruptcy protection, according to an article in the Messenger Inquirer. The owner of the 45-year-old business blamed the homebuilding slump for recent financial troubles.

“Building materials dealers are not in favor with lenders at this time,” said Ken Lawson, Thriftway’s president. “Our business is good, and the Owensboro economy is good, too — much better than the national economy.”

“We’ve provided service for 45 years and will continue to provide service,”  Lawson continued. “Our people and inventories are still here, and our customers will see no interruption of service. It’s just paperwork.”

According to its web site, Thriftway also operates an affiliate, Wholesale Doors & Trim and Installation, and HardwareOvernight.com, an Internet business.

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Madison, Wis., True Value store holds grand opening

BY HBSDEALER Staff

North Side True Value Hardware, located in Madison, Wis., held a two-day grand opening Oct. 4 and 5, after relocating from a 12,000-square-foot to a 14,000-square-foot space, store manager Jeff Jacoby said.

During the weekend celebration, the store raffled off a patio set, gas grill, patio heater and lawn mower, and sold bratwurst, hot dogs and soda for $1 each, donating the proceeds to the American Red Cross.

“It was one of the biggest weekends ever for us,” Jacoby said.

The new store focuses on core hardware categories like hardware, plumbing and lawn and garden, and owner Tom Meikle has also added the Benjamin Moore line of paint and an outdoor furniture department. Meikle also owns a store in Columbus, Wis.

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Lincoln Electric acquires Brazilian manufacturer

BY HBSDEALER Staff

Cleveland-based professional tools manufacturer Lincoln Electric has announced the acquisition of a 90 percent interest in Sao Paulo, Brazil-based Brastak.

The $30 million deal increases Lincoln Electric’s worldwide operations. Brastak produces brazing products, used in the welding and repair of pipes and plumbing.

“The Brastak acquisition represents the expansion of our brazing product line as well as our continued expansion into developing international markets,” said John M. Stropki, chairman and CEO of Lincoln Electric. He said the move primarily will help the company serve professionals in South America.

Lincoln Electric is one of the world’s largest manufacturers of arc welding products.

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