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SK bankruptcy

Coach James

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Sandhills of North Carolina
Our only local(40 miles away) SK dealer stopped carrying them over a year ago citing quality issues and difficulty getting stock. I never stopped liking their stuff, I just couldn't get it around here any more.

Coach
 
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Davefr

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I'm surprised at all the positive responses about SK tools. They were bashed worse than HF a few months ago (and earlier). I personally love my SK tools. Awesome chrome on those babies.

Most SK bashing was over their warranty return charges.
 

Davefr

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and the fear that if they broke an SK tool they were stuck without getting it fixed. I actually put a few of my favorite 3/8" ratchets that are SK in the back of the drawer knowing that if I broke them I'd be fubar'd.

TheGrooveking

I have tons of SK tools and have yet to ever break one.
 

TheGrooveking

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An alternate reality in a parallel universe.
I have tons of SK tools and have yet to ever break one.

I understand completely yet for some weird psychological issue I cut back on using them. But you would understand if you only had 25 S-K ratchets like I have, if I had fifty I could understand saying "damn the torpedos" and go for it. It just made me go and buy 12 Matco 88 toothers:bounce:

I feel the same way about my MAC ratchets, I worries that if I break one the new one will come packaged in Chinese carry out container.

TheGrooveking
 

mikevango

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erie, PA
I was just about to order a few sockets from SK, I will look for an independent dealer then. Anyone have a good source for buying SK sockets?
Tooltopia.com I bought many sk items from them. Also going to place an order before Friday (I need an sk 15/16 deep) and they have free shipping on order over $50 till Friday night.

Go SK !!!
 

Griff93

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Jul 25, 2009
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Huntsville, AL
We have an Independent SK tool truck here. He has a pretty good stock of stuff and is a straight up guy to deal with. If any of you guys need something specific to finish out a set or replace a lost/broken or just want some open stock, let me know and I'll check for you when I'm on the truck. I'll stay out of being the middle man though and just send you straight to him when it's purchase time.
 

Tim Cowan

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Feb 24, 2009
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Piedmont,Alabama 36272
I have bought new SK Lectrolite, SK's, SK Wayne, SK again and I'll keep a little space for the new SK Ideal. SK and Proto are my favorites. Snap On's are nice and feel great but seldom in my tool buying budget.
 

Greatbear

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Jan 17, 2008
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Columbia/Fulton, MD
I have several SK wrench sets and socket sets, most of them at least 20 years old. They have held up well over the years, I did crack a few sockets that I got replaced way back when, but the local hardware store that was also a dealer long since vanished, and with them went my only reliable local source for the stuff. Later stuff I managed to find at the Carlisle swap meets, but, there again, those vendors either vanished or started carrying far more Chinese stuff. Sad to see this happening, I hope SK can both be turned around to be profitable, and have a wider distribution channel.
 

kythri

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What is interesting is that all the companies you mention (maybe not Ideal) are or have been rebranded into Craftsman tools.

Understood. Yet, that shouldn't stop them from providing a competing line-up. Danaher also produces competition for Sears in the form of Kobalt, even if I personally don't consider it to be serious competition (it's loads better than Home Depot's line-up, though).

I think that SK considers itself a competitor more with Snap-on, Mac, etc and not Craftsman. I don't think the pricepoint would compete with Craftsman either unless they were able to cut costs and also the selling price on their tools.

I think they try to be competition with the big names, but it doesn't seem that they ever were. They don't have a decent store-based distribution channel, and they don't have a truck distribution channel. It would be interesting to see them try the latter route, given the issues that it sounds like Stanley has been having with the Mac brand, but that seems like it would be a real tough nut to crack.

As mentioned, I'd really like to see them at the local chain store level, with a deep product offering - I'm just not sure where they'd have an opening. Home Depot isn't going to chuck out Husky, and Lowe's isn't ready to get rid of Kobalt. Walmart has it's Stanley stuff, and the price point wouldn't be low enough for them to take it on. Not sure if I could see Target as a purveyor of mid-range tools, but maybe? Perhaps Kohl's, which seems to be sprouting up new stores more often?

Barring that, maybe a national auto parts chain might be a good idea? I don't see NAPA or Autozone getting rid of their lines soon, but perhaps something like O'Reilly/Schucks/Checker/Kragen? They appear to be consolidating under the O'Reilly banner, and don't really have a "unique" brand of hand tools, or a decent line of them yet.
 

TireTracks

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Yakima,Washington.
Understood. Yet, that shouldn't stop them from providing a competing line-up. Danaher also produces competition for Sears in the form of Kobalt, even if I personally don't consider it to be serious competition (it's loads better than Home Depot's line-up, though).



I think they try to be competition with the big names, but it doesn't seem that they ever were. They don't have a decent store-based distribution channel, and they don't have a truck distribution channel. It would be interesting to see them try the latter route, given the issues that it sounds like Stanley has been having with the Mac brand, but that seems like it would be a real tough nut to crack.

As mentioned, I'd really like to see them at the local chain store level, with a deep product offering - I'm just not sure where they'd have an opening. Home Depot isn't going to chuck out Husky, and Lowe's isn't ready to get rid of Kobalt. Walmart has it's Stanley stuff, and the price point wouldn't be low enough for them to take it on. Not sure if I could see Target as a purveyor of mid-range tools, but maybe? Perhaps Kohl's, which seems to be sprouting up new stores more often?

Barring that, maybe a national auto parts chain might be a good idea? I don't see NAPA or Autozone getting rid of their lines soon, but perhaps something like O'Reilly/Schucks/Checker/Kragen? They appear to be consolidating under the O'Reilly banner, and don't really have a "unique" brand of hand tools, or a decent line of them yet.

At our local orlieys, they have brought in a new lines of tools sold under porformance tool, GM proformance parts and Ultra steel. I would love for them to bring in SK, though SK is somewhat expencive for me, if i could get them i would buy them more.
 

caper

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Feb 12, 2006
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cape breton
I have two SK tools.One is an 18mm wrench that came in a bunch of tools I bought and the other is a 1/4"ratchet that an ebay seller mis shipped to me by mistake and rather than have him loose out I just kept and told him not to bother resending the herbrand I had paid for.I think their biggest problem here in Canada is that you can't buy them anywhere unless it's online.I've never seen them in any industrial supply store,auto parts store,retail store,tool truck.If I can't find it I can't buy it,it's as simple as that!Since Canadian Tire seems to be slowly killing off the Mastercraft brand and replacing it with Stanley I'd love to see them carry the SK line as a premium line.It would be great for SK,a nationwide chain that caters mostly to auto parts/hardware customers.There's a store in every medium/large town.
 

scooby074

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Nova Scotia
Caper: I agree.I'd love to see Crappy tire take them on, Gray would be better IMHO, but i doubt it will happen. it would be great if they brought back the Mastercraft Professional line.

They used to sell good tools but now its chicom ****. Cheapest they can find.

I have a few SK tools. Theyre nice. I like their green hard handle screwdrivers. I bought mine from a local mobile industrial guy who has since gone out of business (i think)
 

t100

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Sep 3, 2009
Messages
6,101
I've broken 2 ratchets in my life, both 1/2 dr. a C-man 12" handle on a cheater, an S-K 16" handle, no cheater. both were used on the same rusted frozen axle nut. got the C-man replaced in less than half-hour, and the S-K, more than 3 months. if there wasn't a fellow GJ member giving me the repair kit, that ratchet would still be in the junk jar today.

ironically, the same nut was busted open by a HF breaker bar with a cheater.

I'll hold on my money on SK tools till I see if the the new management can get their **** straight.
 

matthew

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Dec 4, 2009
Messages
1,345
I have two SK tools.One is an 18mm wrench that came in a bunch of tools I bought and the other is a 1/4"ratchet that an ebay seller mis shipped to me by mistake and rather than have him loose out I just kept and told him not to bother resending the herbrand I had paid for.I think their biggest problem here in Canada is that you can't buy them anywhere unless it's online.I've never seen them in any industrial supply store,auto parts store,retail store,tool truck.If I can't find it I can't buy it,it's as simple as that!Since Canadian Tire seems to be slowly killing off the Mastercraft brand and replacing it with Stanley I'd love to see them carry the SK line as a premium line.It would be great for SK,a nationwide chain that caters mostly to auto parts/hardware customers.There's a store in every medium/large town.

There's a place in Winnipeg that sells S-K, Doyle's supply (www.tool-chest.ca).

I don't think the CanTire clientele would be all that eager to buy SK. What I don't understand is why they don't get some decent hand tools to sell through their PartSource outlets - that would be a better fit for S-K tools.
 

Panzer

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Nov 23, 2008
Messages
39
well I have sk and so and I am not pleased with SO concerning COO but I feel alot better paying the upfront cost of Snap On I am going to guess SK name will be whored out with made in china tools another great US tool maker gone.
 
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tweety652

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Jan 6, 2007
Messages
256
i've seen SK for sale around here either at o'reillys or advance....it's behind the counter away from their other tools but i know i've seen them. I may have to stop by and pick up a few "wants" before the change...you just never know who'll make it next for them...just look at craftsman. couldn't believe i saw wrenches with the c-man name and "made in china" on the packaging....never been too fond of their stuff but still a HUGE disappointment.
 

mrb

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Dec 31, 2008
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as far as sending production to china (if Ideal ends up with SK), here is my take on it:

Ideal has previously stated they are working to bring more USA tools to the market. They bought WF and Pratt Read not for the brands, but for the manufacturing capacity. I think the same would be true with SK, they wouldnt buy them to get the SK brand so they could make SK branded tools in china. By acquiring SK, Ideal would fill the gap in their production capabilities which is wrenches, sockets, ratchets, etc.

Craftsman on the other hand is just a brand with no manufacturing capability that (unfortunately) is ripe to have its products made in china.

I wonder if Ideal is positioning to become a major craftsman supplier. Between WF, PR, and SK they could produce the entire craftsman hand tool line....
 
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jsackin

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Ideal has previously stated they are working to bring more USA tools to the market. They bought WF and Pratt Read not for the brands, but for the manufacturing capacity. I think the same would be true with SK, they wouldnt buy them to get the SK brand so they could make SK branded tools in china. By acquiring SK, Ideal would fill the gap in their production capabilities which is wrenches, sockets, ratchets, etc.

I absolutely agree with this. If Ideal buys SK, then SK stays American made.
Western Forge already makes craftsman's screwdrivers and pliers. I'm sure if they had the SK plant they would start selling craftsman their sockets and wrenches to.

Jori
http://store.harryepstein.com
 

Davefr

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I absolutely agree with this. If Ideal buys SK, then SK stays American made.
Western Forge already makes craftsman's screwdrivers and pliers. I'm sure if they had the SK plant they would start selling craftsman their sockets and wrenches to.

Jori
http://store.harryepstein.com

You're forgetting one minor detail. Danaher already has the Craftsman contract and I doubt they'll give up without a fight.

I find it hard to believe that Ideal/SK could offer a significant cost advantage to Sears relative to Danaher's huge ecomonies of scale.

It'll be interesting to see this all play out. It's still not obvious how SK benefits Ideal.
 
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jsackin

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You're forgetting one minor detail. Danaher already has the Craftsman contract and I doubt they'll give up without a fight.

I find it hard to believe that Ideal/SK could offer a significant cost advantage to Sears relative to Danaher's huge ecomonies of scale.

It'll be interesting to see this all play out. It's still not obvious how SK benefits Ideal.

You know, you're right. Danaher could cream SK in price. It will be interesting to see what Ideal does. So far it seems like they have been positioning themselves as a behind the scenes manufacturer. The big question is: Will they use the SK facility to private label merchandise or will they just try to push the SK name?

Jori
http://store.harryepstein.com
 

matthew

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At one time, Ideal might have bought S-K to distribute its plier and screwdriver lines, but anymore most of S-K's distribution seems to have evapourated...

I doubt Craftsman would switch to just buying from Ideal. But they might outsource more Craftsman to overseas, and Sears start stocking S-K as its higher-end US made product. Perhaps unlikely, but not impossible. Distribution does seem to be the big thing that's needed.

Not sure where Ideal will look for markets, but there may be export opportunities available, as well, if they can get good distribution, whether under the S-K name or privately labelled.
 

t100

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with the huge backlog of warranty items out there, will the new ownership take over the burden? remember, my local SK dealer stopped taking SK warranties since Feb. of 2009.
 

mrb

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with the huge backlog of warranty items out there, will the new ownership take over the burden? remember, my local SK dealer stopped taking SK warranties since Feb. of 2009.

I bet those warranty obligations will get wiped out in the BK
 
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jsackin

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with the huge backlog of warranty items out there, will the new ownership take over the burden? remember, my local SK dealer stopped taking SK warranties since Feb. of 2009.

I think SK is going to have to stand behind their merchandise. If they don't it will be a huge blow to their reputation. Ideal is not going to change the name of the company, and it would be a hard argument to make for SK to refuse to warranty an item that has their name on it. I could see Ideal figuring into their asking price the replacement costs of all the tools that have been piling up.

Jori

http://store.harryepstein.com
 

Skyline

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I bet those warranty obligations will get wiped out in the BK

While that certainly may be true from a legal standpoint, it is not what most purchasing companies that are trying to maintain and revive a well known brand would do. The smart thing to do is voluntarily honor the warrantees. They would want those customers happy.

If a purchaser is buying the bankrupt company for the use of, (or to sell off,) its assets, with no intent to continue business, then the warrantees go out the window.
 

mrb

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While that certainly may be true from a legal standpoint, it is not what most purchasing companies that are trying to maintain and revive a well known brand would do. The smart thing to do is voluntarily honor the warrantees. They would want those customers happy.

If a purchaser is buying the bankrupt company for the use of, (or to sell off,) its assets, with no intent to continue business, then the warrantees go out the window.


good point
 

vssjim

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McLean Va.
To me the biggest positives I have seen is Ideal saying they want to grow US mfg. buy the purchases they have made and they are going to get SK Tools for 3.25 million dollars which for all this stuff is chicken feed money.
 

scooby074

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To me the biggest positives I have seen is Ideal saying they want to grow US mfg. buy the purchases they have made and they are going to get SK Tools for 3.25 million dollars which for all this stuff is chicken feed money.

i have a hard time believing Ideal wants to grow american manufacturing when they just sent VG to china, and VG was the leader in their market, and sold at a fair price that should have been able to support domestic manufacturing.

i hope they do start making stuff here again, just dont see it happening based on their past practices
 

logical

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I just bought the SK 1/4, 3/8 and 1/2 6-point sets in the green plastic cases to replace my mix and match craftsman sets. I really like them for the price and like the cases a lot. I still use my Craftsman or Wright ratchets because the SK ones in the set are just so-so but the sockets and knurled extensions are really nice.
 

toolnut

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Lockport,NY
From another site:

Posted by: PTEN editor

To paraphrase the great Mark Twain, “The reports of S-K’s death are greatly exaggerated.”

Recently, rumors have been circulating that S-K Hand Tools had filed for Chapter 11 bankruptcy. That’s simply not true, according to Cliff Rusnak, S-K’s executive VP. He does think the report was spawned by the Chapter 11 filing of S&K Famous Brands (http://cantorarkemapc.com/sandk-famous-brands.php).

In addition to not having filed for bankruptcy, S-K has recently released several new tools, including a new hammer set, sockets, and a full range of new dial torque wrenches.

Watch for more new products from S-K in the coming months in PTEN and our Onlin:headscrat
 

kythri

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Lebanon, OR
From another site:

Posted by: PTEN editor

To paraphrase the great Mark Twain, “The reports of S-K’s death are greatly exaggerated.”

Recently, rumors have been circulating that S-K Hand Tools had filed for Chapter 11 bankruptcy. That’s simply not true, according to Cliff Rusnak, S-K’s executive VP. He does think the report was spawned by the Chapter 11 filing of S&K Famous Brands (http://cantorarkemapc.com/sandk-famous-brands.php).

In addition to not having filed for bankruptcy, S-K has recently released several new tools, including a new hammer set, sockets, and a full range of new dial torque wrenches.

Watch for more new products from S-K in the coming months in PTEN and our Onlin:headscrat

Sounds like Cliffy is a big liar. Why would S&K Famous Brands file in Virginia, and then file in Illinois?

http://www.ilnb.uscourts.gov/cci/0709A425_m.htm

SK Hand Tool HAS filed for Chapter 11.

Edit: OK, Cliffy wasn't lying when he said that - back in early 2009. The PTEN blog post referenced is dated March 25, 2009.
 
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