65-year-old Home Depot rival closes business permanently

Core Insights - The home improvement and hardware retail sector is experiencing significant challenges, including a wave of retailer closures expected to continue through the end of 2025 [1] - The Home Improvement Research Institute has revised its annual consumer sales projection down to a 1.3% increase, halving its previous estimate of 2.6% [2] - Economic factors such as high mortgage rates, declining housing starts, and increased home prices are contributing to reduced consumer visits to home improvement stores [3] Industry Trends - The average 30-year mortgage rate has risen to 6.34% as of November 25, 2025, compared to 3.02% on November 20, 2020, impacting housing market dynamics [3] - The combination of rising home prices and a decrease in home sales has led to fewer customers visiting hardware stores [3] Retailer Closures - Several notable hardware stores have permanently closed, including Ritter's True Value Hardware and Carnation Ace Hardware, due to economic pressures [4] - Jerry's Hardware & Rental plans to close two locations by December 31, 2025, indicating ongoing challenges in the sector [5] - C&H Hardware, a 65-year-old store, will shut down on November 26, 2025, citing difficulties in competing with online sales and rising prices [6][8] Competitive Landscape - C&H Hardware's owner noted that competition from online retailers and larger chains like Home Depot and Lowe's has made it difficult to sustain business [7][9] - The store had previously performed well before the COVID-19 pandemic but has faced a decline in sales since then [9]