Corporate giant makes offer to buy Orchard Supply

Orchard Supply Hardware Stores filed for relief under Chapter 11 this week. The California based hardware store chain operates solely in California. The home improvement giant Lowe’s has put in a “stalking horse” bid for the stores of $205 million. This will increase its presence in the California home improvement market if it can pick up Orchard and continue to operate its stores. It currently plans to continue under the Orchard name as a standalone business.

For more information on this story read, “Lowe’s offers to buy Orchard Supply for $205M.”

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