Iconic Hardware Chains Shut Down Amid Market Decline

UPDATE: In a shocking turn of events, several beloved hardware chains are permanently closing their doors, driven by a significant downturn in the home improvement market. As economic pressures mount, Jerry’s Hardware & Rental announced it will close two locations in Minnesota on December 31, 2025.

The closures come as the Home Improvement Research Institute reveals a downward revision of growth predictions for the home improvement sector. Initial projections of 3.4% growth have plummeted to just 2.5% for 2025. This shift signals troubling times ahead for hardware retailers, especially smaller chains struggling against giants like Home Depot and Lowe’s.

In recent months, several iconic hardware stores have ceased operations, including Carnation Ace Hardware in Washington, which closed on October 25, and Ritter’s True Value Hardware in Pennsylvania, which shut down on September 30. The historic Kreuger’s True Value in Wisconsin has also announced plans to close after a liquidation sale, citing dwindling demand.

The economic landscape is contributing to this crisis. Consumer price inflation is expected to rise to the 3% range by late 2025, while housing starts have dropped 5.3% in the second quarter. Furthermore, mortgage rates are hovering around 6.25%, making it increasingly difficult for consumers to invest in home improvement projects.

The closure of Jerry’s Hardware, which has been a staple in the Twin Cities since its inception over 50 years ago, highlights the struggle of smaller retailers in an industry dominated by a few major players. After the closures, Jerry’s will retain operations at its locations in Eden Prairie, Bloomington, and Edina.

As consumers brace for an uncertain future in home improvement, the fate of local hardware stores hangs in the balance. The continuing decline in sales and rising economic challenges could lead to more closures in the coming months.

Industry experts are monitoring these developments closely, as the impact extends beyond just hardware stores. The ripple effects could be felt across various sectors, making it crucial for consumers and businesses alike to stay informed in these rapidly changing times.

Stay tuned for more updates as this story develops.