SOME customers at Stop & Shop can expect lower costs after the removal of an automatic surcharge.

The retailer confirmed the fee’s elimination last week, along with other moves to benefit the shopping experience in a key state.

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Stop & Shop is removing a crucial fee at 25 of its stores[/caption]

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Customers in a key state can start saving soon (stock image)[/caption]

Those who frequent any of Stop & Shop’s 25 stores in Rhode Island will no longer have to pay 10 cents for paper bags, per an October 8 press release.

Starting in October, the bags will again be free for those at Stop & Shop stores in the state.

Stop & Shop said the move was part of its initiative to “make groceries more affordable” for Rhode Island residents, according to the release.

Along with the 10-cent paper bag fee removal, the retailer said it would be lowering prices on thousands of its national and private brand items.

Shoppers can expect reductions on over 3,500 products across nearly every department in each store.

That’s a total of around 87,500 price drops on merchandise.

Those items that are discounted will have yellow tags that highlight the reduction compared to the original listing.

Stop & Shop included several examples in the release of items that would have price drops, including the Boneless Chicken Breast Value Pack, Hass Avocados, Kraft Shredded Cheese, Yoplait Yogurts, and more.

Price drop percentages were as high as 30% and as low as 11%.

There will also be “Savings Stations” introduced at the 25 Rhode Island locations for Stop & Shop.

COUPON CRAZE

The kiosks were described as “in-store savings centers where customers can save on their groceries with digital coupons.”

Stop & Shop said customers can use the Savings Stations to can their GO Rewards loyalty card or input their phone number to instantly see what digital coupons they qualify for.

The coupons can either be kept on phones and gadgets through its GO Rewards loyalty program or printed off to be used anytime customers shop.

The GO Rewards loyalty program also offers customers opportunities to earn points and get dollars off future purchases or even use them for gas savings.

BENEFITS AND CLOSURES

At least three other benefits were also promised for Rhode Island shoppers — weekly sales, deal lock, and meal deals.

Deal lock is a program that secures sale prices for several weeks so customers can take full advantage.

Meal deals offer families of four a main protein-based dish for a discount plus other complimentary items free to make it complete.

Stop & Shop operates over 350 locations across Connecticut, Massachusetts, New Jersey, and New York, along with Rhode Island.

Earlier this year, it confirmed the closures of at least 32 locations across each state.

Each will be closed for good on or before November 2, and some have already shuttered their doors.

A PROMINENT hardware brand has filed for bankruptcy this month after over 70 years in business.

Now, it plans to sell operations to one of its biggest competitors.

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A prominent hardware wholesaler has filed for bankruptcy (stock image)[/caption]

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The brand plans to sell its assets to a competitor during the proceedings (stock image)[/caption]

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True Value operates 4,500 stores nationwide and overseas[/caption]

True Value began its Chapter 11 proceedings in the US Bankruptcy Court for the District of Delaware, per a Monday press release.

It signed an agreement to sell all of its assets to Do it Best Corp, a hardware store company formerly known as Hardware Wholesalers.

True Value currently operates over 4,500 locations in the United States and internationally.

Customers can rest assured that their local stores will not be impacted by the sale agreement.

The hardware wholesaler’s locations are owned independently by franchisees and are not part of the bankruptcy filing, aside from a single location owned by the company in Palatine, Illinois, a northwest Chicago suburb.

“True Value will continue its day-to-day operations serving 4,500 independently owned retailers that rely on True Value for the right products, trusted expertise, and its 75-year-old iconic brand,” the release stated.

Chris Kempa, True Value’s CEO, said the bankruptcy filing and sale to Do it Best Corp was made after considering several other avenues and was ultimately the move to “secure a stronger future for True Value.”

“After a thorough evaluation of strategic alternatives, we determined that the sale of our business was the path forward to maximize value and best serve our retail partners and other stakeholders into the future,” Kempa noted in the release.

“We believe that entering the process with an agreed offer from Do it Best, who has a similar decades-long history in the home improvement space and also operates with a focus on supporting members and helping them grow, is the most beneficial next step for True Value and our associates, customers, and vendor partners.”

THINKING AHEAD

Dan Starr, Do it Best president and CEO, echoed similar sentiments and stressed the acquisition as the best move for the company’s interests.

“A successful acquisition of True Value assets would represent a strategic milestone for Do it Best and home improvement retailers around the world,” Starr said in the release.

“This acquisition, if consummated, would provide True Value and independent hardware stores the strongest opportunities for growth for years to come.”

True Value expects the sale process to Do it Best Corp to be completed by the end of 2024.

During the start of the bankruptcy proceedings, Do it Best Corp acts as the “stalking horse.”

A stalking horse in a bankruptcy filing is the initial bidder picked by the bankrupt company to set the base price for its assets, per Investopedia.

It ensures that the best value for the affected company is found.

MEASURES TAKEN

Do it Best Corp has also committed additional funding, if needed, to True Value for it to continue operations during the bankruptcy proceedings.

For now, True Value has sought to use its cash collateral for operational expenses in the meantime.

The company also noted in Monday’s release that it took several steps before the bankruptcy filing to put itself in a profitable position in 2024.

Those steps included “modernizing its legacy operations, driving greater efficiencies, and investing in additional marketing campaigns.”

NOT ALONE

True Value has added itself to a list of several prominent retailers that have filed for bankruptcy in 2024.

Big Lots officially filed in September after weeks of rumors and detailed plans to close down over 545 locations.

LL Flooring also submitted its Chapter 11 documents in August and confirmed it would shutter around half of its over 400 locations while reverting to its old name.

Furniture retailer Conn’s HomePlus also filed in July, with 170 locations gone for good.

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