San Jose-Based Orchard Supply Hardware Files For Bankruptcy

Lowe's will take up 60 of Orchard's stores

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    TK
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    Lowe's is going to take over most of Orchard Supply Hardware's stores, but the Orchard name will remain.

    Garden supply chain Orchard Supply Hardware filed for bankruptcy on Monday, according to reports.

    OSH, which was founded in 1931 and based in San Jose, will live on but its stores will be operated by its rival, Lowe's, according to the San Jose Mercury News.

    Lowe's will buy about 60 of OSH's 91 stores for $205 million in cash.

    Lowe's likes the deal because of Orchard's smaller-sized stores, according to the report.

    It was not immediately clear what would happen to the 31 Orchard locations not included in the deal mentioned above.

    Other than a new corporate parent, it appears little will change at Orchard.

    The management, branding and employee pay structure will all stay the same, the newspaper reported.