WATSONVILLE — Lowe’s Companies, Inc., which operates 110 hardware stores in California, announced Monday that it has purchased the majority of Orchard Supply Hardware stores.
The announcement came the same day Orchard filed for chapter 11 bankruptcy.
Lowe’s made the purchase of Orchard’s assets for approximately $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners.
Also known as OSH, the stores will still keep the same name and the same management teams, Lowe’s stated in a press release.
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