The hardware retail industry has long been dominated by giants like Home Depot and Lowe’s, leaving smaller players like True Value Hardware and Ace Hardware struggling to stay afloat. Independent hardware retailers have faced significant challenges in the face of these market behemoths, with many longstanding businesses being forced to close their doors.
In the third quarter of 2025, Home Depot commanded a substantial 29% share of the home improvement market, with Lowe’s following closely behind at 17%. Amazon also held a significant stake at 11%, according to the Numerator Home Improvement Tracker. With these three national retailers collectively capturing 57% of the market, smaller hardware cooperatives and independent stores have found it increasingly difficult to compete.
Several iconic hardware stores have recently announced their closures, signaling the harsh reality facing many in the industry. Kreuger’s True Value in Neenah, Wis., with a history dating back 159 years, announced its closure in July 2025. Ritter’s True Value Hardware in Mechanicsburg, Pa., and Carnation Ace Hardware in Carnation, Wash., also permanently shut their doors in 2025.
Adding to this trend, C&H Hardware in Yakima, Wash., a 65-year-old independent hardware store, closed its business in November 2025 due to rising prices and challenges in competing with online sales. The closures of these longstanding establishments underscore the uphill battle faced by smaller hardware retailers in today’s competitive market.
The latest casualty in this industry shift is Benjamin Brothers True Value Hardware in Tenafly, N.J. The 80-year-old hardware store announced its impending closure on January 31, 2026, citing the challenging business environment. The store owners expressed gratitude to their loyal customers for their support over the years and reflected on the memories and relationships forged during their time in business.
Benjamin Brothers True Value Hardware, which originally began as a lumber yard in 1946 before transitioning into a hardware business in 1963, is a part of the True Value Hardware Cooperative. The store offers a wide range of products, including hardware, lumber, hand tools, power tools, plumbing, electrical, lighting, kitchen and bath supplies, housewares, paint, lawn and garden items, automotive products, grills, pet supplies, and gift cards.
In addition to its product offerings, Benjamin Brothers provides various services such as glass cutting, key cutting, paint mixing, and product delivery. Despite these efforts, the store was unable to withstand the competitive pressures of the industry, leading to its eventual closure.
As the hardware retail landscape continues to evolve, with larger chains dominating the market, the closure of Benjamin Brothers True Value Hardware serves as a poignant reminder of the challenges faced by small, independent businesses in the industry.
