I had the same issue with the Ironton cord reel. Mine didn’t “click” when I pulled the cord out so I figured something was stuck. I found other posts that put me on to this. It took time t remedy but it works fine now. Here is what I did:
Take out all the screws. The heads of the screw were on the electrical input side. Only take out those that hold the two haves together. On the other side, pop out the small core in the center. Take out the small screw.
Spit the shell apart. On the half where the small enter cover was look inside. There will be a white plastic piece that is spring loaded. This piece is often installed, I read, too tightly so it won’t move freely. Loosen the screw and lube the white piece where it rubs on the cover. Note: I didn’t do this bit it might help: Remove the white piece and put a small washer under it and put the screw back but not too tightly. It should keep it from rubbing in the future. You will see what I mean.
Time to put it back together. I struggled mightily to get the center shaft to align with the cover. It has a + end to it. I finally used a nail by putting it it through the hole where the small screw was and slid it into the shaft. I quickly was able to snap things back together. It worked fine after this.
Another note: Make sure the ball on the cord that stops the cord from retracting all the way is slid down to the plug. That way, when you pull the cord out you will immediately begin tensioning the spring. Otherwise, the cord may not retract all the way. I didn’t add any other tension and mine retracts fine. I’m not sure how additional tension could be added, There is a warning note inside that says to avoid over tightening. Perhaps somebody knows how to add additional tension?
. I believe Ironton is a northern tool house brand - would they do service on these reels?