Home improvement giants Home Depot and Lowe’s continue to dominate the market, pushing out hardware cooperatives and independent retailers. Home Depot holds 29% of the market, with Lowe’s at 17% and Amazon at 11%. This dominance has led to closures of long-standing hardware stores like Kreuger’s True Value and Ritter’s True Value.

True Value hardware stores like Kreuger’s and Ritter’s, along with independent stores like Carnation Ace Hardware and C&H Hardware, are permanently closing due to market challenges. Benjamin Brothers True Value in Tenafly, N.J., will also close its doors after 80 years of service, citing the difficulty of competing with national retailers.

Benjamin Brothers True Value Hardware, a long-standing hardware store, will close its Tenafly, N.J., location on Jan. 31, 2026, after 80 years of service. The store expressed gratitude to its loyal customers and the community for their support over the years. The owners did not provide a specific reason for the closure.

Benjamin Brothers True Value, part of the True Value Hardware Cooperative, offers a wide range of products and services, including popular brands like Klein Tools, Dewalt, and Black & Decker. The store provides services such as glass cutting, key cutting, and product delivery. Despite its offerings, the store faced challenges competing with larger retailers like Home Depot and Lowe’s.

Benjamin Brothers True Value discontinued house accounts on Dec. 31, 2025, and stopped accepting returns on Jan. 1, 2026, ahead of its closure. The hardware store, known for its diverse product selection and services, will permanently shut down its Tenafly location, marking the end of an era for the 80-year-old business.

Read more at Yahoo Finance: 80-year-old Home Depot rival shuts down location, no bankruptcy