Craftsman brand sold-maybe not

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6,367
Location
Midwest
The news just gets worse for Sears. If it's determined that they were insolvent at the time the Craftsman sale was signed, or if Sears becomes insolvent because of it, the deal could be "voidable, in whole or part". If Sears is found insolvent or is bankrupt, the brands would then be sold to satisfy senior creditors. Craftsman Deal Voided The news just gets worse for Sears Holdings; they finally admitted that there is "substantial doubt" that the company can remain in business. Washington Post Article Just last month Sears announced it was planning a "strategic transformation" that sent stock prices higher. Just 6 weeks later they claim there is substantial doubt that they will remain viable. That sure sounds like someone is manipulating stock prices, and I wouldn't put it past their thug of a CEO. To top it off, the senior executives are leaving the company in droves and there is no plan for replacing them. Sears Executives Quitting It's a shame; Sears was once a great company, but I don't see any road to recovery for them at this point.
 
Messages
2,721
Location
MURICA
WOW, that's crazy. Guess, will have to see. But overall sears website can be a nightmare to deal with from online ordering or quantity perspective. Unfortunately, it's sad, but they didn't keep up with the pace of others!
 
Messages
35,479
Location
NY
I think they're pretty much done. It was once a great American company. Poor management and a lousy CEO didn't help matters.
 
Messages
6,029
Location
Florida
I walked into the Sears tool department the other day for old times sake. It was a sad sad place. Hard to believe they sell anything these days.
 
Messages
5,887
Location
Tn.
Internet buying is giving all the old brick and mortar stores a rough time....I do not like malls,,not many retail stores have anyone who knows the product,,well very few anyway....I'm old,,,,,,,since 1946...
 
Messages
548
Location
Idaho
Won't go in a mall anymore, too many teen-agers after school and in the morning idiot mall walkers that won't move for you. I hate Sears, the sales people always annoyed me so I quit them about 20 years ago. Harbor freight tools now, low prices and lots of free stuff.
 
Messages
11,295
Location
Florida, Cape Coral
That is so sad. As a child our three most visited family stores were Montgomery Wards, Sear Roebuck and JC Pennys. I fear that in the next few years we will lose all three to China Mart aka WalMart.
 
Messages
6,237
Location
Kalifornia Kollective
Out here we have Orchard Supply Hardware started way back as suppliers to agriculture. Used to be able to go there and get literally anything for the farm from a well pump to any nut or bolt you could imagine. Sears bought them up and pretty soon they were just another blister pack retailer. Some good stuff, but not even close to their former self ... Seems Sears has been mismanaging things for a l-o-n-g time ... frown
 
Messages
25,470
Location
MA, Mittelfranken.de
It sounds like the only thing missing is the liquidation fire sale. That's too bad, its a piece of history that was copied the world over that fell in the bowl and waiting to be flushed.
 
Messages
12,207
Location
OH
I bought a nice <span style="font-weight: bold">Lands' End</span> winter coat from Sears about two years ago for half off, normally $80. Waterproof/breathable and windproof, 3-ply nylon fabric, Antistatic fleece lining, and PolarThin insulation.
 
Messages
96
Location
Soonerville
The huge influx of cheap Chinese tools aka Harbor Freight, etc. probably didn't help. Craftsman eventually went alot Chinese also, but probably wasn't priced as low as other Chinese tool sellers.
 

Nick1994

$50 Site Donor
Messages
13,034
Location
Phoenix, AZ
Originally Posted By: sprite1741
Won't go in a mall anymore, too many teen-agers after school and in the morning idiot mall walkers that won't move for you. I hate Sears, the sales people always annoyed me so I quit them about 20 years ago. Harbor freight tools now, low prices and lots of free stuff.
I rarely go to a mall as well. But if it's been 20 years you might want to try them again, they're ghost towns.
 
Messages
1,048
Location
Penske Truck Rental
Give it 10 or so years then Sears will start doing mass close-offs on all its stores. Unfortunately they are anchor stores in the malls here and having them close down means nothing good already except maybe for some stores. I will miss the heavily discounted Diehard Platinums if they ever close.
 
Messages
7,326
Location
California
I went into OSH asking for vinyl tubing by the foot, nope, gotta buy the whole roll. I fondly remember the old, pre-Sears/Lowe's OSH when I was growing up. Ace has filled in that gap. Malls will still be open in more affluent suburbs - but the ones who depended on Sears/JCP/Macy's as their main attraction will eventually see the wrecking ball and get turned into market-rate housing or Wal-Mart will build there.
 
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Messages
412
Location
ND
Originally Posted By: Kibitoshin
Give it 10 or so years then Sears will start doing mass close-offs on all its stores. Unfortunately they are anchor stores in the malls here and having them close down means nothing good already except maybe for some stores. I will miss the heavily discounted Diehard Platinums if they ever close.
A Sears near me is closing and it's an anchor store at the mall. I don't think you can get Diehard Platinums anymore.
 
Messages
2,065
Location
America's Dairyland
When I worked for them in the mid 90's there was a non-stop flow of people through the doors. We did good work and had many repeat customers. Now... Modern Tire Dealer At one time, Sears, Roebuck and Co. sold more than 20 million tires a year. Now that total is down to around 3 million. A revolving door of executives has tried to jump-start tire sales to no avail.
 
Messages
3,203
Location
Southeastern, PA
Yup, hate to see them go. Looking over on our coat rack, my old winter work coat hangs, from "Sears - The Mens Store", it's seen me through every winter snow storm since 1977, that's forty years. Have a bunch of Craftsman tools, the good ones "Made in USA", still providing good service. The times they do change...
 
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