Hardware chain True Value Co. warned it could lay off 98 workers at a warehouse in Springfield. planned bankruptcy sale to a competitor is falling.

The company told state officials that the layoffs would occur between Dec. 14 and Dec. 28 if they were unable to complete the sale to Do It Best Corp.

Do It Best offered $153 million to acquire True Value as part of Chapter 11 bankruptcy proceedings. The companies have similar businesses and sell home decor products to a network of independent stores.

True Value has approximately 4,500 retail locations, including dozens in Oregon. The Springfield warehouse is one of 13 regional distribution centers and the only warehouse in the Northwest.

True Value’s notice of potential layoffs is required under the Worker Adjustment and Retraining Notification Act of 1988, or WARN Act, to provide advance notice to employees and officers of mass layoffs.

Irma Quintana, True Value’s chief human resources officer, wrote in a letter that the company believes Chapter 11 bankruptcy will allow it to preserve jobs and continue operations.

If the sale falls through and another buyer cannot be found, the Oregon distribution center will close permanently, he wrote.

— Elliot Njus He edits business and economic news for The Oregonian/OregonLive. He can be reached at [email protected].