A challenging housing market and consumers’ reluctance to spend on renovation projects have impacted the hardware and home improvement retail sector, affecting giant retailers like Home Depot and Lowe’s, as well as their smaller competitors, such as regional chain Chase Ace Hardware.
The impact on the sector led to depressed sales for many retailers, including Home Depot, which reported a sales decline of 3.8% in its fourth quarter of 2025, ending Feb. 1, 2026, though its annual sales still rose by 3.2%, according to the company’s fourth quarter earnings call in February 2026.
The economic impact on smaller hardware retail chains has been more intense as several have turned to filing for bankruptcy to restructure their debts.
Another Ace Hardware store operator files for Chapter 11 bankruptcy to reorganize locations.Sundry Photography/Shutterstock
Chase Ace Hardware files for bankruptcy
D&D Venture Group Inc., operator of the Chase Ace Hardware chain and Sprig Home & Garden stores in Northern California, filed for Chapter 11 bankruptcy to reorganize its businesses, according to court papers.
The Greenbrae, Calif.-based Ace Hardware and home and garden store operator filed its Subchapter V petition, No. 26-30496, in the U.S. Bankruptcy Court for the Northern District of California in San Francisco on June 4, listing $1 million to $10 million in assets and liabilities.
The debtor did not state a specific reason for filing for bankruptcy in its petition.
D&D Venture’s largest creditors include Fremont Bank, owed over $1.05 million; SCG Marina Bay Business Center, owed over $383,000; Internal Revenue Service, owed $184,000; Bankers Healthcare Group, owed over $177,000; California Employment Development Department, owed over $130,000, and Wells Fargo SBL, owed over $97,000.
Debtor operates Sprig Home & Garden
The debtor operates Chase Ace Hardware stores in San Rafael, Santa Rosa, and Pacifica, Calif., as well as Sprig Home & Garden stores in Santa Rosa and San Rafael.
Chase Ace Hardware carries top name brand hardware products such as Craftsman, DeWalt, Toro, Weber grills, and Benjamin Moore Paints.
Sprig, founded in 2016 by three friends, carries California-style home decor and accessories, as well as plants, candles, paper products, books, style, jewelry, wellness goods, bath and lotions products, and a kids section with baby clothes, plushies, games, and retro toys.
Wren Kitchens filed bankruptcy and closed
Other hardware chains have struggled against the big-box giants as well, including major home improvement chain, Wren Kitchens, which operated stores and had showrooms in Home Depot stores under a strategic partnership.
Wren Kitchens filed for Chapter 7 bankruptcy liquidation on April 24, 2026, according to Bankruptcy Observer, and abruptly closed its 15 brick-and-mortar retail stores on the East Coast.
The U.K.-based home improvement retailer’s parent, Wren US Holdings Inc., posted a message on its website announcing the closing.
“We regret to inform you that our showrooms and studios are now closed. If you require assistance, please click button and complete the form,” the message said. The message included a green “Click for form” button for customers to use.
Home Value Store files for Chapter 11
South Florida home improvement retailer Home Value Store, which operates three locations in Fort Lauderdale, Fla., Hialeah, Fla., and Bartow, Fla., also filed for bankruptcy more recently.
Home Value Store filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida on June 2, facing legal claims from creditors, according to PacerMonitor.
Home Value Store did not state a specific reason for filing for bankruptcy in its petition.
The Hialeah, Fla.-based retail chain specializes in providing functional hardware, laminate flooring, kitchen, bath, and furniture accessories, decorative finishes, moldings, high-tech surfaces, wood coatings and finishes, and acrylic panels.
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This story was originally published by TheStreet on Jun 5, 2026, where it first appeared in the Retail section. Add TheStreet as a Preferred Source by clicking here.