Handy Hardware Wholesale Inc., a dealer-owned wholesale group with more than 1,000 members in 14 states, filed for chapter 11 protection from its creditors, Bloomberg News reported on Friday. The company listed both assets and debt of $50 million to $100 million in chapter 11 documents filed on Friday. The company, based in Houston, was founded in 1961 by 13 independent hardware retailers in Houston. American Water Heater Co., owed $1.4 million, is listed as the largest creditor without collateral backing its claim.
