It's a Mac rebrand. I was fortunate enough to hit them during the last F&F sale and the spend $75/get $75. Only a couple hours all that was going at once and they were in stock.
Sent from my Moto G (5) Plus using The Garage Journal mobile app
Sears.com hot deals and clearance thread
- Thread starter Spn1025
- Start date
Sent from my Moto G (5) Plus using The Garage Journal mobile app
Cruzan80
Well-known member
Link to the ornaments? Grabbed one or two last year, would love to add to the collection.
They found some more ornaments to unpack, and turns out there ARE Craftsman ones again!5 repeats from last year (now in non-anniversary packaging), but 1 new one, a snowman holding tools. I just spent all my points on other stuff, but I'll probably try to get that one before things shut down, points or no points.
Things I bought today:
Craftsman 16oz Curved Claw Hammer
http://www.sears.com/craftsman-16-oz-curved-claw-hammer/p-00938045000P
$18.99 (not on sale in-store or online, but I wanted to finally get one of these with the unique handle design)
Craftsman 5pc Wood Chisel Set
http://www.sears.com/craftsman-5-pc-wood-chisel-set/p-00936859000P
$25.41 online sale price-matched in-store, $34.99 regularly [$19.99 was the lowest I'd seen, but that was many months ago]
Used up all my points for now, an app reinstall coupon, and my last order pickup delay coupon, and spent a couple bucks OOP.
And if anybody is looking for an inexpensive item, I noticed this is on a great online sale today (full-price in store but they should match if you ask):
Craftsman Cap Wrench Bottle Opener
https://www.sears.com/craftsman-cap-wrench-bottle-opener/p-A011714711
$6.59 online sale, $14.99 regularly
No longer US-made but still gets good reviews.
I think Imperial tool is the original maker. All the truck tool brands rebrand them.
https://imperial-tools.com/products/automotive/general/hose-tools
They still don't seem to be on the website... and from what I saw in my store, they're all being inventoried together under the same SKU (there were 6 identical labels on the shelf under the tray of these at my store, all labeled 'hammer', which is one of the designs), so you wouldn't be able to reliably pick a design if you could order online. You'll have to go in-store. Each store should have 1 cardboard tray containing 3 of each of the 6 ornament designs, but it might not be unpacked and put on the shelf everywhere yet. The price is $9.99 each.
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CLINT-THE-GREAT
Well-known member
other than the occasional 10% off, it hasn't been on sale in at least a year. I waited a long time for it to be like $20 or somthing and it never went that low, so just bought the $15 one from Harbor Freight.
They are MAC tools rebrand. They sell for $65 under the MAC name. I own them and can confirm their quality. I will probably buy another before they close.
-The Great
watch the price on it--in the last F&F i got $30 back on it once it dropped to $269 (an incredible price on any box this size) literally making it more back in RMN cash and sears points than i paid OOP. of course, thats assuming they still do price matching and points after this next week...
bubinga
Well-known member
CLINT-THE-GREAT
Well-known member
So I ordered my Yost vise last week taking Hexen's advice fearing for the safety of my $88 in points..... I got an email that my item had shipped from Sears, and then also an email from UPS saying I had a package from Yost Co. on Friday...... well Friday came and went no package and my tracking number from UPS says the label has been made but hasn't officially shipped yet.....I then checked sears website yesterday and all of the Yost vises are no longer listed, kinda like the Knipex weren't available a couple months ago.
So....should I be nervous that my vise isn't coming????
-The Great
So....should I be nervous that my vise isn't coming????
-The Great
Most likely Yost is holding shipment until Sears pays them for the order.
AffableCurmudgeon
Well-known member
Those points are liabilities, unsecured ones at that. More likely than not, those are gone in chapter 11.
Whole points program was a giant ponzi scheme; spend two bucks and they give you 2 more in credits...
Yes, that's probably what's going on. Hopefully Sears will be using a little bit of the $300 million in financing that they just secured last night for ongoing operations to pay off vendors currently in limbo like that.
upgrading
Well-known member
http://www.chicagotribune.com/business/ct-biz-sears-bankruptcy-20181015-story.html
Eddie steps down as CEO, but is still chairman
They are looking for another 300 mil loan from Eddie's hedge fund.
Hopefully the list of 142 stores they will close will be available by noon.
Eddie steps down as CEO, but is still chairman
They are looking for another 300 mil loan from Eddie's hedge fund.
Hopefully the list of 142 stores they will close will be available by noon.
Here's some more details.
Sears Holdings Initiates Processes To Accelerate Strategic Transformation And Facilitate Financial Restructuring | Sears Holdings Corporation
" HOFFMAN ESTATES, Ill., Oct. 15, 2018 /PRNewswire/ -- Sears Holdings Corporation ("Holdings," "we," "our," or the "Company") (NASDAQ: SHLD) today announced a series of actions to position the Company to establish a sustainable capital structure, continue streamlining its operating model and grow profitably for the long term. To facilitate these actions, the Company and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York (the "Court").
The Company expects to move through the restructuring process as expeditiously as possible and is committed to pursuing a plan of reorganization in the very near term as it continues negotiations with major stakeholders started prior to today's announcement.
Holdings has received commitments for $300 million in senior priming debtor-in-possession ("DIP") financing from its senior secured asset-based revolving lenders and is negotiating a $300 million subordinated DIP financing with ESL Investments, Inc. ("ESL"). ESL is the Company's largest stockholder and creditor, and Edward S. Lampert is ESL's Chairman and Chief Executive Officer. Subject to Court approval, the DIP financing is expected to improve the Company's financial position immediately and support its operations during the financial restructuring process.
Holdings has filed a number of customary motions with the Court seeking authorization to support its operations during the restructuring process and ensure a smooth transition into Chapter 11. The Company intends to continue payment of employee wages and benefits, honor member programs, and pay vendors and suppliers in the ordinary course for all goods and services provided on or after the filing date.
The Company's Sears and Kmart stores, and its online and mobile platforms, are open and continue to offer a full range of products and services to members and customers. Holdings' services and brand businesses will also continue to operate as usual. Customers should expect Holdings' loyalty programs, including the Shop Your Way membership program, and the Sears and private label credit card rewards programs, to continue as normal. The Company is committed to working with its vendors and other partners to help maintain inventory levels and ensure timely product delivery.
...
[Sears] Holdings will also close 142 unprofitable stores near the end of the year. Liquidation sales at these stores are expected to begin shortly. [Specifics of these 142 locations has not yet been announced.] This is in addition to the previously announced closure of 46 unprofitable stores that is expected to be completed by November 2018.
...
Edward S. Lampert has stepped down from his role as Chief Executive Officer of the Company, effective immediately. He will remain Chairman of the Board. The Company's Board has created an Office of the CEO, which will be responsible for managing the Company's day-to-day operations during this process. The Office of the CEO will be composed of Robert A. Riecker, Chief Financial Officer; Leena Munjal, Chief Digital Officer, Customer Experience and Integrated Retail; and Gregory Ladley, President of Apparel and Footwear.
...
Additional information is available on the Company's restructuring website at http://restructuring.searsholdings.com. For Court filings and other documents related to the court-supervised process, please visit http://restructuring.primeclerk.com/sears
... "
The first court hearing is at 2pm ET (1pm CT) this afternoon. I'm guessing that's when the list of 142 new closing stores will be released.
The bankruptcy paperwork says Sears has:
Total assets: $6.937 billion
Total debts: $11.339 billion
The vendors Sears owes the most money to right now are:
Whirlpool (appliances): $23.4 million
Frigidaire/Electrolux (appliances): $18.6 million
Winia Daewoo Electronics (appliances): $15.2 million
Cardinal Health (prescription drug distributor for Kmart pharmacies): $13.9 million
Icon Health and Fitness (exercise equipment): $12.1 million
HK Greatstar (electronics): $10.3 million
Samsung (appliances): $8 million
Apex Tool (Craftsman tools): $6.6 million
Stanley Black & Decker (Stanley, Dewalt, & Craftsman tools): $5.9 million
Eastern Prime Textile (clothes): $5.8 million
Winners Industry (looks like mostly Christmas trees/decorations): $5.4 million
(There are also several financial companies that Sears owes hundreds of millions of dollars to each, and of course many smaller vendors and service companies that they didn't go into detail on.)
Customer FAQ highlights:
"Our Sears and Kmart stores and online channels are open and ready to serve you, so you can shop however is most convenient for you. Our services and brand businesses will continue to serve you as well.
Our loyalty programs, including the Shop Your Way membership program, warranties, protection agreements, and the Sears and private label credit card rewards programs continue as normal."
"We announced that we will be conducting closing sales at a number [142] of stores [starting within a week or two, and concluding] near the end of the year [in late Dec 2018] – in time for holiday shopping. Other stores [previously announced] will be conducting sales and closing by November 2018. A full list of these locations will be available on the "News/Media" section of searsholdings.com."
" Will I receive the product/appliance/parts I’ve ordered that are currently being shipped?
We will make every effort to ensure a timely delivery for your order.
Will Sears continue to honor warranties on products I’ve already purchased or may purchase in the future?
We are currently honoring our warranties, protection agreements and guarantees as normal.
Can I still redeem gift cards?
We are accepting gift cards. Please come to our stores or shop online to use them.
Can I still exchange/return merchandise and/or cancel my order?
Yes, in line with our usual terms.
Will you still offer leasing and layaway programs?
Yes, leasing and layaway continue as normal.
Will this impact me as a holder of a Sears Credit Card or Sears Mastercard? What about accumulating rewards points?
Your cards should work as they normal do.
Will I still be able to earn and use Cashback and/or SYW points? Will I still be eligible to receive SYW promotion/additional discounts?
We have sought authority to continue these programs. [This means they have to get permission from the judge, hopefully in this afternoon's hearing.]
What happens to the Cashback points I earned that were supposed to be deposited into my
account over the next few weeks?
We have sought authority to continue these programs. [This means they have to get permission from the judge, hopefully in this afternoon's hearing.]
Will my appliances still be serviced by Sears Homes Service technicians?
Yes. Sears Home Services is operating as usual.
Will Sears Auto Center remain open? Will the warranties on my car repair be honored?
Yes, Sears Auto Centers remain open. ... We are currently honoring our warranties, protection agreements and guarantees as normal."
Vendor FAQ highlights:
"We have received commitments for $300 million in new debtor-in-possession (DIP) financing and are negotiating a $300 million subordinated DIP financing. Subject to court approval, this financing is expected to support our operations – and meet our obligations to vendors – during this process."
"We intend to pay vendors in the ordinary course for all goods and services provided on or after the filing date. Invoices for these goods and services should be submitted through the ordinary channels, and payments will be processed in accordance with the terms of our purchase order or contract. The Court will establish a process for all amounts owed for goods delivered and services rendered prior to the filing date. Creditors will be provided notice and an opportunity to file claims."
[I think this means that by holding off on actually shipping ('providing') recent orders until today or later, some vendors were ensuring they get paid right away for those orders instead of having to try to get that money in court from the bankruptcy proceedings.] [Update a week later: Many of the vendors seem to still be avoiding Sears, in spite of the guarantee they'll get paid for post-bankruptcy purchases, because they're holding out on principle till they get paid for all their pre-bankruptcy purchases.]
"Are vendors allowed to reclaim goods already delivered to the company?
No. Taking back goods from a company that has filed for Chapter 11 is prohibited by the Bankruptcy Code, unless specifically authorized by the Court."
"A number of our vendors are owed money for goods delivered prior to the bankruptcy filing. Certain of these vendors are essential to our ongoing operations and our ability to deliver the products and services our customers and members desire – and also our ability to generate revenue to pay all of our other post-petition vendors. These vendors are virtually irreplaceable and losing them would immediately put our relationships with our customers and members in serious jeopardy. We have therefore determined that payment of some portion of the pre-petition claims of this narrowly-tailored group of lenders may be necessary because failure to do so would very likely disrupt our ability to generate revenue or serve our customers and members going forward."
[This means they are prioritizing paying the most important vendors first for products delivered before the bankruptcy filing. Probably the appliance manufacturers and the big tool companies.]
Update: Here is the list of 142 stores beginning liquidation within a week or so.
And here are the 211 stores 'under review' to possibly begin liquidation in late Nov.
And here are the 333 stores that will be the last stores standing.
Update Nov 8: 40+1 stores closing, 4 of which were on the last-stores-standing list.
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upgrading
Well-known member
It would be good if we know the fate of SYW this afternoon.
There are a few good points back deals I want in on.
There are a few good points back deals I want in on.
Apparently 76 Sears stores' managers are going to be on a private conference call with corporate in about an hour this morning. These could be the closing stores, with the rest (142-76=66) being Kmarts.
Update: Here is the complete new closure list! From documents uploaded on the restructuring site later this morning. It is in order by state, with Sears and Kmarts mixed together. Looks like my two Sears are still safe for now. Liquidations at these locations [the ones that weren't already closed] will probably begin later this week or next, and end in late December. (Apparently there are some locations on this list that were already closed, but Sears included them in this list because it's still been paying on leases for those locations and now they're using bankruptcy to get out of those leases.)
Update: Here is the complete new closure list! From documents uploaded on the restructuring site later this morning. It is in order by state, with Sears and Kmarts mixed together. Looks like my two Sears are still safe for now. Liquidations at these locations [the ones that weren't already closed] will probably begin later this week or next, and end in late December. (Apparently there are some locations on this list that were already closed, but Sears included them in this list because it's still been paying on leases for those locations and now they're using bankruptcy to get out of those leases.)
- 2306 Sears 1001 Rainbow Dr Gadsden AL 35901-5376
- 9711 Kmart 2821 East Main St Russellville AR 72801-9801
- 1708 Sears 7611 W Thomas Rd Phoenix-Desert Sky AZ 85033-5433
- 1078 Sears 6515 E Southern Ave Mesa/East AZ 85206-3711
- 1169 Sears 3177 Chandler Village Dr Chandler AZ 85226-
- 2078 Sears 3150 S 4Th Ave Yuma AZ 85364-8104
- 2047 Sears 2250 El Mercado Loop Sierra Vista AZ 85635-5204
- 1998 Sears 1401 N Montebello Blvd Montebello CA 90640-2584
- 1518 Sears 100 Los Cerritos Mall Cerritos CA 90703-5421
- 3483 Kmart 2530 S Euclid Ave Ontario CA 91762-6619
- 1988 Sears 3751 S Dogwood Ave El Centro CA 92243-
- 4706 Kmart 375 E Alessandro Blvd Riverside CA 92508-2463
- 1388 Sears 3333 Bristol St Costa Mesa CA 92626-1811
- 3945 Kmart 912 County Line Rd Delano CA 93215-3823
- 3982 Kmart 215 W Hanford/Armona Rd Lemoore CA 93245-2302
- 9761 Kmart 3247 W Noble Ave Visalia CA 93277-1841
- 1318 Sears 3001 Ming Ave Bakersfield CA 93304-4145
- 1019 Sears 1700 Stoneridge Dr Pleasanton CA 94588-
- 2298 Sears 1011 W Olive Ave Merced CA 95348-2422
- 3345 Kmart 1351 E Hatch Rd Modesto CA 95351-5010
- 1618 Sears 100 Vintage Faire Mall Modesto CA 95356-0559
- 1658 Sears 100 Santa Rosa Plz Santa Rosa CA 95401-6381
- 7471 Kmart 3968-A Missouri Flat Road Placerville CA 95667-5240
- 1408 Sears 5901 Florin Rd Florin CA 95823-2302
- 1131 Sears 7001 S University Blvd Centennial CO 80122-1599
- 1071 Sears 10785 W Colfax Ave Lakewood CO 80215-3807
- 1193 Sears 850 Hartford Tnpk Waterford CT 06385-
- 1134 Sears 1201 Boston Post Rd Sp 2095 Milford CT 06460-
- 2805 Sears 733 N Highway 231 Panama City FL 32405-5302
- 2056 Sears 300 Mary Esther Blvd Mry Est/Ft Wltn Bch FL 32569-1693
- 3424 Kmart 900 N W 76 Boulevard Gainesville FL 32606-6747
- 2245 Sears 1050 S Babcock St Melbourne FL 32901-3022
- 3793 Kmart 12350 Sw 8Th Street Miami FL 33184-1510
- 1955 Sears 3800 Us Highway 98 N Ste 500 Lakeland FL 33809-3824
- 2565 Sears 303 Us Hwy 301 Blvd W Bradenton FL 34205-7991
- 1006 Sears 3100 Sw College Rd Ste 300 Ocala FL 34474-8449
- 3713 Kmart 6239 Turner Lake Road Covington GA 30014-2064
- 3978 Kmart 400 Crosstown Road Peachtree City GA 30269-2915
- 9309 Kmart 2307 Superior Webster City IA 50595-3165
- 9222 Kmart 1111 N 2Nd Cherokee IA 51012-1287
- 3097 Kmart 2803 E Kanesville Blvd Council Bluffs IA 51503-1004
- 1229 Sears 460 N Milwaukee St Boise ID 83704-9122
- 1740 Sears 3340 Mall Loop Dr Joliet IL 60431-1057
- 9348 Kmart 4210 N Harlem Ave Norridge IL 60706-1277
- 4297 Kmart 5000 23Rd Ave Moline IL 61265-4599
- 4433 Kmart 3701 Broadway St Quincy IL 62301-3721
- 1470 Sears 1251 Us Highway 31 N Greenwood IN 46142-4503
- 3251 Kmart 6780 W Washington St Indianapolis IN 46241-2999
- 9354 Kmart 430 W Ridge Rd Griffith IN 46319-1095
- 3823 Kmart 723 3Rd Ave Jasper IN 47546-3639
- 2600 Sears 3401 S Us Highway 41 Terre Haute IN 47802-4154
- 4215 Kmart 7836 State Ave Kansas City KS 66112-2417
- 7169 Kmart 400 South Broadway Salina KS 67401-4005
- 1790 Sears 4807 Outer Loop Louisville-Okolona KY 40219-3200
- 7229 Kmart 600 C W Stevens Blvd Grayson KY 41143-1190
- 2546 Sears 2625 Scottsville Rd Bowling Green KY 42104-4477
- 3941 Kmart Northridge S/C Us Hwy 127 Russell Springs KY 42642-4559
- 7223 Kmart 7000 Veterans Memorial Metairie LA 70003-4497
- 1403 Sears 1235 Worcester Rd & Natick MA 01760-
- 3807 Kmart 835 Solomons Island Rd N Prince Frederick MD 20678-3912
- 2034 Sears 15700 Emerald Way Bowie MD 20716-2200
- 3654 Kmart 6163 Oxon Hill Road Oxon Hill MD 20745-3108
- 1844 Sears 10300 Little Patuxent Pkwy Columbia MD 21044-3341
- 2963 Sears 400 N Center St Westminster MD 21157-5140
- 9521 Kmart 417 Main Street Madawaska ME 04756-1197
- 1390 Sears 900 Briarwood Cir Ann Arbor MI 48108-1618
- 1250 Sears 2100 Southfield Rd Lincoln Park MI 48146-2250
- 3308 Kmart 1025 M-24 Lake Orion MI 48360-1429
- 3820 Kmart 06600 M-66 North Charlevoix MI 49720-9505
- 1052 Sears 425 Rice St St Paul MN 55103-2123
- 1112 Sears 12431 Wayzata Blvd Minnetonka MN 55305-1925
- 4304 Kmart 1 Flower Valley Shp Ctr Florissant MO 63033-1644
- 3239 Kmart 7100 Nw Prairie View Rd Kansas City MO 64151-1630
- 4026 Kmart 2901-5 N Belt Hwy St. Joseph MO 64506-2006
- 2225 Sears 703 N Berkeley Blvd Goldsboro NC 27534-3444
- 4450 Kmart 4500 Western Blvd Raleigh NC 27606-1814
- 1646 Sears 11033 Carolina Place Pkwy Pineville NC 28134-8370
- 1405 Sears 400 Cross Creek Mall Fayetteville NC 28303-7244
- 3808 Kmart 1530 East Broad Street Statesville NC 28625-4302
- 4112 Kmart 1001 Patton Ave Asheville NC 28806-3643
- 2663 Sears 50 Fox Run Rd Ste 74 Portsmouth NH 03801-2858
- 1574 Sears 1500 Highway 35 Middletown NJ 07748-1831
- 3393 Kmart 779 Delsea Dr N Glassboro NJ 08028-1435
- 1464 Sears 1750 Deptford Center Rd Deptford NJ 08096-5282
- 1287 Sears 6600 Menaul Blvd Ne Ste 700 Coronado NM 87110-3447
- 1709 Sears 1245 W Warm Springs Rd Henderson NV 89014-8740
- 9415 Kmart 987 Route 6 Mahopac NY 10541-1709
- 1944 Sears 600 Lee Blvd Yorktown Hts NY 10598-1142
- 1414 Sears 75 W Route 59 Ste 100 Nanuet NY 10954-2701
- 1004 Sears 1111 Franklin Ave Garden City NY 11530-1617
- 3600 Kmart 93 West Campbell Rd Schenectady NY 12306-6800
- 4741 Kmart 8363 Lewiston Road Batavia NY 14020-1236
- 9392 Kmart 349 Orchard Park Rd West Seneca NY 14224-2634
- 4123 Kmart 2590 Military Rd Niagara Falls NY 14304-1506
- 2584 Sears Rt 394 & Hunt Blvd Lakewood NY 14750-
- 7209 Kmart 15891 State Rt 170 East Liverpool OH 43920-9633
- 4257 Kmart 17840 Bagley Rd Middleburg Heights OH 44130-3401
- 1564 Sears 5320 Youngstown Rd Niles OH 44446-
- 2311 Sears 3201 W Main St Norman OK 73072-4847
- 1151 Sears 6929 S Memorial Dr Tulsa Woodland Hls OK 74133-2035
- 4455 Kmart 3955 S W Murray Blvd Beaverton OR 97005-2316
- 1079 Sears 9800 Sw Washington Square Rd Washington Sq OR 97223-4455
- 2119 Sears 827 Lancaster Dr Ne Salem (Lancaster) OR 97301-2929
- 4054 Kmart 100 Tarentum Rd New Kensington PA 15068-4670
- 4010 Kmart 880 Butler Street Pittsburgh PA 15223-1319
- 9438 Kmart 720 Clairton Blvd/Rte 51 Pleasant Hills PA 15236-4517
- 2124 Sears 5522 Shaffer Rd Ste 129 Dubois PA 15801-3304
- 4150 Kmart 528 W Plank Road Altoona PA 16602-2802
- 7746 Kmart 1180 Walnut Bottom Rd Carlisle PA 17013-9160
- 7470 Kmart 1170 Mae Street Hummelstown PA 17036-9185
- 3361 Kmart 1502 South Fourth St Allentown PA 18103-4949
- 3884 Kmart 111 Hulst Dr Ste 722 Matamoras PA 18336-2115
- 1454 Sears 100 Neshaminy Mall Bensalem/Crnwls Hts PA 19020-1607
- 1064 Sears 2300 E Lincoln Hwy Langhrn/Oxford Vly PA 19047-1824
- 9539 Kmart 3205 Lincoln Hwy Thorndale PA 19372-1012
- 9409 Kmart 1000 Nutt Rd Phoenixville PA 19460-2200
- 7274 Kmart 129 West Butler Avenue Mauldin SC 29662-2534
- 7043 Kmart 2302 Cherry Rd Rock Hill SC 29732-2165
- 2335 Sears 2801 Wilma Rudolph Blvd Clarksville TN 37040-5011
- 1115 Sears 2100 Hamilton Place Blvd Chattanooga TN 37421-6006
- 7460 Kmart 6909 Maynardville Pike Ne Knoxville TN 37918-5325
- 1395 Sears 7600H Kingston Pike West Town TN 37919-5604
- 1146 Sears 2800 N Germantown Prkway Cordova TN 38133-
- 1080 Sears 2605 Preston Rd Frisco TX 75034-9434
- 2147 Sears 2501 Irving Mall Irving TX 75062-5161
- 1227 Sears 3450 W Camp Wisdom Rd Southwest Ctr TX 75237-2504
- 2617 Sears 7508 N Navarro St Victoria TX 77904-2654
- 1277 Sears 6301 Nw Loop 410 Ingram TX 78238-3824
- 2537 Sears 2002 S Expy 83 Harlingen TX 78552-
- 1357 Sears 2901 S Capitol Of Texas Hwy Austin/Barton Creek TX 78746-8101
- 1137 Sears 1000 E 41St Austin TX 78751-4859
- 1247 Sears 6002 Slide Rd Lubbock TX 79414-8555
- 7415 Kmart 6364 Springfield Plaza Springfield VA 22150-3431
- 7717 Kmart 2712 W Main St Waynesboro VA 22980-1618
- 7259 Kmart 118 Waller Mill Rd Williamsburg VA 23185-2946
- 1575 Sears 100 Newmarket Fair Mall Hampton VA 23605-1406
- 3133 Kmart 1001 E Sunset Drive Bellingham WA 98226-3510
- 2330 Sears 3500 S Meridian Ste 900 Puyallup WA 98373-3722
- 4188 Kmart 1701 4Th Ave W Charleston WV 25387-2415
- 2304 Sears 9520 Mall Rd Westover/Morgantown WV 26501-8524
- 4736 Kmart 4000 East 2Nd Street Casper WY 82609-2385
- 2341 Sears 701 Se Wyoming Blvd Casper WY 82609-4213
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A court document Sears uploaded this morning says they are having to urgently get the bankruptcy court's help to stop a lot of attempted vendor take-backs, and make their third-party trucking and storage contractors resume service.
"To date, shipments have been halted for over 200 vendors, which has had an estimated $100 million impact on the Debtors' available liquidity. In addition, the Debtors have received multiple termination letters from carrier and demands for payments with threats to discontinue services if payment is not made. Certain vendors have attempted to retrieve merchandise already delivered to the Warehouses, while other vendors have ceased performing services completely."
"Thus, to maintain access to Merchandise that is essential to the continued viability of the Debtors' retail operations and preserve the value of the Merchandise, the Debtors seek authority to honor outstanding invoices related to shipping services provided by the Shippers and Warehousemen to the Debtors prior to the Commencement Date (collectively, the "Shipping and Warehousing Charges"). The Debtors estimate that, as of the Commencement Date, there are approximately $16.7 million of Shipping and Warehousing Charges outstanding...."
Interesting bits about the gift cards and SYW points from the court documents:
"As of July 2018, the Debtors estimated that the aggregate amount outstanding for issued gift cards was approximately $460 million. The Debtors believe that any customer claims arising under the Gift Card Program are entitled to priority over other general unsecured claims to the extent provided in section 507(a)(7) of the Bankruptcy Code. By this Motion, the Debtors seek authorization to maintain the Gift Card Program and to honor all gift cards purchased by customers prior to the Commencement Date [today, 10/15/2018, the bankruptcy filing date]."
"As of the Commencement Date, there were approximately 144 million customers enrolled in the Shop Your Way Program (the "Members"), approximately 29 million of whom have made one or more purchases at Sears or Kmart stores within the last twelve (12) months. ... Unless stated otherwise, earned points are valid for at least one full year before expiring on the next calendar quarter date (March 31, June 30, September 30, and December 31). As of the Commencement Date, there were approximately 251 million Shop Your Way points outstanding. By this Motion, the Debtors seek authorization to maintain the Shop Your Way Program and to continue to honor rewards associated with the Shop Your Way Program."
At 1,000 points per dollar, that means there is only $251,000 total outstanding SYW points!
Unclear if that includes the ones owed in the future installments of cashback promos, or only those that are sitting in people's accounts as spendable right now (I think it's only the spendable-right-now points), but still, I'm surprised how small that is. I think that is a good sign for the program continuing unaltered (until Chapter 7 total liquidation hits), if it is so inexpensive. Although there's obviously a lot of turnover (I'm guessing outstanding points get used up in about a month on average... even if only 2 weeks on average, it's still quite small for millions of customers), that outstanding amount is the cost of just two 30-second nationwide TV ads.
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EOC_Jason
Well-known member
Well, it was a good ride while it lasted...
I wonder what the outcome of the Sears Hometown stores will be. I guess as long as they can get product to stock the store they will continue on.
I wonder what the outcome of the Sears Hometown stores will be. I guess as long as they can get product to stock the store they will continue on.
btoonsis
Well-known member
Same with me... was going to wait until it stopped raining (will have a couple of items in the back of the pickup truck)... but maybe I should grab a tarp and go now!
A friend owns one in Colorado and he says they will be unaffected.
I think it is going to slow the foot traffic in their stores significantly, though.
The closest Sears which is ~100 miles from me is on that list ^. I hope the local hometown store is not impacted, otherwise it is pretty much game over for me unless I am getting everything shipped.
2manytools
Well-known member
Just has my pair of Knipex Cobra 7" comfort grip get cancelled. Ordered Friday. Boo
edit: Had another Knipex ordered cancelled. That was done last night. If I had to guess. I don't think Knipex is at the top of the list to get paid, & are getting out now. Damn
edit: Had another Knipex ordered cancelled. That was done last night. If I had to guess. I don't think Knipex is at the top of the list to get paid, & are getting out now. Damn
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I would definitely bet that the 251 million points are dollar for dollar, i.e. they meant to say "there were approximately $251 million Shop Your Way points outstanding". that would measure up much closer to the $460M in giftcards and would explain why they would want to allow the program to continue
either way...keep riding that gravy train into the ground
cccoltsicehockey
Well-known member
Losing 2 of my 3 remaining stores. One K-mart and one Sears. Appears I will still hang on to one Sears location for the time being. Interesting though because the one that is closing always seemed to have better selection and more traffic from the few times I visited it. It was further away though so not complaining that I get to keep the closer one.
cccoltsicehockey
Well-known member
So there are outstanding points around but will they keep giving new free points to try and get people to buy up the remaining inventory?
Oh boy, that's disappointing to hear. I guess it's a good thing I decided to cash out on non-Knipex stuff yesterday.
At the moment, it looks like some Knipex listings are coming up as unavailable for shipping from Sears, but not all of them. Even what you ordered still claims to be shippable.2manytools
Well-known member
Oh boy, that's disappointing to hear. I guess it's a good thing I decided to cash out on non-Knipex stuff yesterday.
They were instantly refunded too. Didn't even wait to refund back to an e-gift card & base points.
When I clicked the link you included, it does default to a 3rd party. I know it is available from Sears, but wonder if that gives any indication of problems sourcing. I'm going to try to order
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I would definitely bet that the 251 million points are dollar for dollar, i.e. they meant to say "there were approximately $251 million Shop Your Way points outstanding". that would measure up much closer to the $460M in giftcards and would explain why they would want to allow the program to continue
either way...keep riding that gravy train into the ground
Nope, the value is definitely 1000 points per dollar, and they wouldn't want to risk perjury by lying in court. The small amount is just a sign of their dwindling active customer base, I guess. And definitely wasn't counting future obligations.
cccoltsicehockey said:
Things can change at any point, but so far today they've still been paying out sweepstakes points, FWIW.
barracudadave67
Active member
Well........ Good luck to all you guys playing the Sears game, hope it works out.
My last mail order from sears turned into a joke.
We have no Sears stores anywhere here. I miss shopping the craftsman tools section, but thats all.
I don't buy much in tools anymore being retired 10 yrs now.
Dave
My last mail order from sears turned into a joke.
We have no Sears stores anywhere here. I miss shopping the craftsman tools section, but thats all.
I don't buy much in tools anymore being retired 10 yrs now.
Dave
2manytools
Well-known member
Just called Knipex. They are cancelled all orders since Friday at least. Damn it
btw: fastest pickup time ever, for any tool company I've called.
btw: fastest pickup time ever, for any tool company I've called.
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I'm not sure why the site does that sometimes, but my 6" Pliers Wrench was doing that when I placed that order a few weeks ago, and I successfully received it.
I think it's just when third-party sellers have a much lower price than Sears does that they get to come up first.If things settle down in a few days or weeks or something, maybe Knipex will start shipping again... good to know they are responsive to phone calls about their current status with Sears, should do that before attempting any future orders.
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They probably assigned someone to man the phone today and maybe the next few days. I bet you are not the first person who is asking about their Knipex order via Sears.
Kudos for Knipex customer service!
tjpavlov
Well-known member
I wonder what would happen if you reordered right now. From my understanding of bankruptcy law, debts incurred while under bankruptcy (i.e. today and after) will be secured by the new credit line. Debts from the weekend won't be.
2manytools
Well-known member
I also emailed them, thinking I could be on hold a while, and received a super fast, yet sad, email. It flat out said they will not be supplying Sears with more tools, once they declared bankruptcy.
Just a called Flexzilla/Legacy & while a much less sure employee answered, it seems they too are not fulfilling orders. I was hoping for a 1/2" line to use for irrigation, now that my Knipex options are nill
2manytools
Well-known member
I'm all for that, but I would imagine that is all up to Knipex. I have a feeling they are done with the Sears games.
did anyone receive Item# 00945561000P | Model# SHSM121438 6 pc socket tray / holder - it was posted about 3 weeks ago? out of stock now. I'd it shipped to nearby Sears dept store and have received email that it's "Your order is on the way to our store" on 10/9. But tracking number was NOT included in that email. Not receiving ready for pickup email, and the original ETA having passed, I went to the store and my item isn't shown in the list (with other items that were available for pickup from a different order). Sounds like someone or some store was supposed to ship it but dropped the ball. This had happened before when a store in NH was supposed to ship the Dewalt 204 mechanics set (heavy) which never came ruining my Christmas!
My store is in the list to be liquidated. They just downsized from 2 floor to 1 - what a waste of effort and $$ had they known this was coming.
My store is in the list to be liquidated. They just downsized from 2 floor to 1 - what a waste of effort and $$ had they known this was coming.
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Yep agree. Knipex do not have problem selling their stuffs. There is no reason for them to supply Sears with all of the uncertainty.
That is sad news.
XJPat
Well-known member
That's too bad but that thanks for sharing. Given the quality of their product maybe they are just not that busy, remember the old may tag repairman commercials.
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