True Value sues Hackett’s department stores

Hackett’s, a department store chain based in Gouverneur, N.Y., confirmed that True Value has filed a lawsuit against the company for nearly $1.8 million in unpaid debt. Hackett’s CEO Herbert Becker also said his company is in negotiations with the Chicago-based co-op to continue featuring True Value departments in several Hackett’s locations.

"We fell into a dispute with them, but now we're talking about trying to put something together that will make us happy and will make them happy -- and ultimately, make the customers happy," Becker told HCN.

For now, True Value signs are covered up in Hackett's stores, but Becker is hoping that will change in the near future.

"We're talking to them every day, trying to come up with a resolution," he said.

Hackett's, which is owned by Gouverneur, N.Y.-based Seaway Valley Capital Corp., is one of the nation's oldest retailers with roots dating back to 1830. This full-line department store chain specializes in name brand merchandise, and several locations have True Value hardware departments with traditional hardware, tools, plumbing, paint and electrical merchandise.

The company recently closed locations in Watertown, N.Y., and Pulaski, N.Y.