Chicago-based True Value Company has resolved an issue with Stanley Black & Decker, which has reversed a previous decision to stop supplying the distributor.
An agreement to continue the relationship followed meetings and communications between True Value’s leadership, Stanley and also independent hardware retailers who were surprised by Stanley’s intentions.
It remains unclear what originally caused Stanley to alert True Value last month that Stanley had planned to cease shipments at some point in the future. Neither True Value nor Stanley would comment on the reconciliation between the two companies.
John Fix, president of Cornell’s Hardware in Eastchester, N.Y., a long time True Value dealer, shared with HBSDealer a letter he wrote to Stanley Black & Decker CEO James Loree, before Stanley changed course.
“What possible reason could your company have to cut off selling to independent hardware retailers, many who have been selling Stanley and Black & Decker items since before you and I were born?” Fix wrote.
Reflective of the mindset of the independent, Fix added that a large number of independent family businesses have been loyal customers of Stanley for decades “or in our case, over a century.”
In late March, True Value CEO Chirs Kempa had described Stanley’s cessation notice as “inappropriate and unlawful.”
Stanley alerted True Value of its reversal and intent to continue shipping through True Value Company on April 14.