Pague & Fegan Home and Hardware has kept its strong grip on its historic roots as a successful locally owned business in Shippensburg. 

For over 150 years, P&F served the community with an ever growing inventory, giving nearby big-box stores a run for their money. Now that True Value, what used to be a recognizable successful wholesaler brand, has filed for Chapter 11 bankruptcy, co-owners Kevin and Michael Fague get to do things their way.

In 2014, father Michael Fague and son Kevin Fague bought the P&F store and continued the previous owner’s co-op with True Value. They provided quality home improvement materials like paint, signs, glue, tools, and anything else you could think of until a private firm a bought up True Value a few years later.

The Fagues’ co-op agreement, which did not make them an officially mandated franchise under the new ownership, allowed them to maintain a supplier relationship with the firm. 

Kevin Fague said, “We buy into the co-op by buying stock” that then opens them up to the True Value network. They just take care of the not so fun stuff,” he added.

The store improved its renowned reputation in Shippensburg and both co-owners reported an initially healthy supplier and store relationship. The shop remained well known among local residents. Michael Fague, who has a business administration and marketing degree, says True Value’s well-known brand name attracted newer Shippensburg residents or travelers to the store, especially those not aware of the store’s reputation. 

“We’re paying money for this True Value name. We should take advantage of that,” Fague Said. 

Local thrift stores, antique shops and other independent businesses that called Shippensburg home had to close temporarily due to the pandemic. Fague’s store never closed.  “We never closed down, since the shop was deemed an essential business.”

The pandemic, Michael Fague said, “gave them all sorts of time” to work on DIY projects that people found online. The hardware store’s reputation to have everything anyone could need, all in one store, made for an easy spot when other big stores had closed down in larger cities like Mechanicsburg, Carlisle and Chambersburg.

“We always rode the brand because people do recognize it,” said Kevin Fague. 

Even though the local hardware store took away measly percentages of customers from Lowe’s, Michael Fague says, “I bet we gained 30% of their business” when Lowe’s moved out of Shippensburg. 

Now they have a bustling home and gardens section in an expanded storefront to ensure they live up to their limitless reputation.

Once the world emerged from the pandemic, the private equity firm’s real side started to show. 

Kevin Fague said, “We weren’t a co-op anymore, so therefore we didn’t have a foot in the game really. I mean they were just an independent supplier at that point.” 

As everything over the last year really became clearer, it was too late. The firm’s attorneys “talked about being transparent,” but that was after they declared bankruptcy, Michael Fague said. “This stuff didn’t just come out of nowhere, they’ve been working on this for well probably, at least a year.” 

The Fagues recently gained ownership of a local store in Mechanicsburg, which also had a temporary co-op with True Value, also decided against pursuing a relationship with Do it Best. 

It is clear that it was not the suppliers that made the store special. Micaheal Fague says “my hat goes off to all our employees; they make it happen.”

Kevin Fague did not wait for answers from the firm, saying “I had to be proactive and make a decision on our future because I don’t have time to sit back and wait.” In both stores, consumer demand had already called for help from other independent suppliers, which has become clear to Kevin Fague who said “they’re interviewing to me, to get my business.” 

In a world dominated by online orders and big-box corporate stores, Pague & Fegan’s continued success as a local business means that the Fagues now wait for suppliers to approach them with opportunities, rather than seeking them out.

Share