Store closing

[polexican23]

Just announced 2 sears stores closing

One in Lexington KY, one in Franklin TN.

Would be safe to assume that tools and other nice "garage" needs could be found at a discount.

 

[bas157]

When the one near me closed, the deals were not good. Some things could be found cheaper on sale at non-closing Sears stores. There were some deals but I was disappointed in the prices as a whole. Maybe this will be different?

 

[turbowoodworker]

I wonder if they don't just discount a modest amount, 15%, then what doesn't sell they wholesale out or send to the Sears Outlets????

 

[lithdoc]

The two oldest Chicago stores are closing too, they were in the hood where I lived for several years... South 63rd & Western and South 87th and South 87th Stony Island.

My experience with closing Sears stores (e. g. when Ford City Mall location closed in 2009) is that the deals aren't that good. The most tools reach is 20-30% off retail prices, which as previous posters have said, is likely not as good as you can get with their regular sales.

 

[toolstools]

The longer the tools stay there, and the closer to close date, the better the deals. When my sears closed tools went up to 80% off. Including tool boxes.

 

[SMKS]

The tools won't be a bargain until they hit the serious discounts. I've never found a good deal at a Sears closing, and I've been to several. I guess the trick would be to check every day so you'll know the first day they mark items down to a good price. I don't have time for that kind of stuff, though.

What the liquidation companies do is first eliminate all the sales and put everything at full price, then mark them down a modest 10%. So, most items will be more expensive at the liquidation price than the sale prices, and as we all know, Sears is constantly running sales.

The prices get more competitive when they hit the 20% and 30% discount, but my experience is that people who don't know the liquidation tricks have already bought a lot of the stuff by then.

It's shocking to see how many people flock to the store closings when most the items in the store could have been purchased more cheaply before the liquidation "sale." When my local Sears closed the parking lot was packed most days.

 

[David99]

when they closed 2 near me (at the same time of course!) on the final day they started to do an additional % off your entire purchase at the register and the later it got the higher it became. all this of course is up to the "liquidator" who at that time was essentially running the store and the employees were usually left in the dark as to what was going on until it happened.

by time I checked out it was 50% off your purchase and had I known this was going on I would have grabbed more & waited longer that day!

take your smart phone and compare prices against sears.com to see how much the mark downs really are.

 

[dlewis]

When big retailers close stores they sell the contents to a liquidater who controls the discounts.

 

[3rdbuttondown]

Sears also does not honor returns on items bought at a store closing - all sales final.

Saw several people get burned by liquidator pricing and try to return items to a non-closing store only to be told no returns, no price adj.

 

[s14kev]

Bummer. Franklin TN is my local store. Where did you see it posted? Sears doesn't really make sense. The Franklin TN store is in the heart of one of the major Nashville Malls and is in one of the more affluent areas of TN. Williamson county is one of wealthiest counties in the country. If they can't gather enough business in this store I fail to see how other stores over North America could fare much better.

 

[donthelegend]

Never saw any really good deals on tools when my local store closed. But I went in on one of the last days they were open and they had lots of oddball hardware (metric grease fittings, large grade 8 bolts, stuff that I had never seen on their shelves after going there for years) that was 80% off. Bought quite a bit of that stuff.

 

[mds5951]

Usually when most chain stores close they sub the procedure out to a liquidator whose job is to make them as much money as possible. Lol. What they'll do is jack everything up to msrp. And advertise "OMG EVERYTHING 10% OFF!!!" And just watch the sheeple roll in. Then they will do like 15, then 20, etc. then by the time it actually gets to a good deal (50+%) everything is gone except the ****.

 

[RedFordTruck]

Usually when most chain stores close they sub the procedure out to a liquidator whose job is to make them as much money as possible. Lol. What they'll do is jack everything up to msrp. And advertise "OMG EVERYTHING 10% OFF!!!" And just watch the sheeple roll in. Then they will do like 15, then 20, etc. then by the time it actually gets to a good deal (50+%) everything is gone except the ****.

This is what happened when Kmart closed. I bought a few things at 20-30% off but by the time it got to 50+ % off it was nothing but a bunch of Evolv sets and Craftsman dual ratcheting wrenches left.

 

[rsieracki]

The tools won't be a bargain until they hit the serious discounts. I've never found a good deal at a Sears closing, and I've been to several. I guess the trick would be to check every day so you'll know the first day they mark items down to a good price. I don't have time for that kind of stuff, though.

What the liquidation companies do is first eliminate all the sales and put everything at full price, then mark them down a modest 10%. So, most items will be more expensive at the liquidation price than the sale prices, and as we all know, Sears is constantly running sales.

The prices get more competitive when they hit the 20% and 30% discount, but my experience is that people who don't know the liquidation tricks have already bought a lot of the stuff by then.

It's shocking to see how many people flock to the store closings when most the items in the store could have been purchased more cheaply before the liquidation "sale." When my local Sears closed the parking lot was packed most days.

When big retailers close stores they sell the contents to a liquidater who controls the discounts.

Usually when most chain stores close they sub the procedure out to a liquidator whose job is to make them as much money as possible. Lol. What they'll do is jack everything up to msrp. And advertise "OMG EVERYTHING 10% OFF!!!" And just watch the sheeple roll in. Then they will do like 15, then 20, etc. then by the time it actually gets to a good deal (50+%) everything is gone except the ****.

ALL OF THIS IS TRUE, I WORK FOR A COMPANY THAT DOES BUSINESS WITH THE LIQUIDATION COMPANY SEARS (AND MANY MANY OTHERS) USE.

It is no longer Sears/*** store's merchandise, the liquidation company 'buys' it all, sells at at gradually increasing discounts till the store is empty, usually ATLEAST 60 days (give or take a few)... federal law know as the WARN act requires the store to pay the store associates for 60 days so they stretch the "sale" as long as possible...

THAT'S THE FACTS, I've "worked" 12-15 'going out of business sales' as I'm employed by a vendor to most major department stores that carry our type of product... its always the same itinerary. Generally speaking the location closes due to the lease terms (increase in rent) or the location being no longer profitable or a 'duplicate'... its cheaper to build/open a new store then remodel/maintain and old one, home depot does this also (same liquidator BTW). the 'closing' location will usually do the same business in the 6-12 week 'sale' as it does in a year or 2 more... people always want a 'deal' the 'deal' isn't till the very end when its all picked over.

 

[norry]

ALL OF THIS IS TRUE, I WORK FOR A COMPANY THAT DOES BUSINESS WITH THE LIQUIDATION COMPANY SEARS (AND MANY MANY OTHERS) USE.

Ugh, I remember this when Circuit City was closing down - I think they may have actually brought other stuff in to sell to the people who were convinced they were one step away from shoplifting, when they were actually paying more than they would have down the street.

Which isn't to say that there are *no* deals at all, but they're few and far between until the very end.

Reminds me of being at the auction when Enron closed down - the prices were going so high on basic commodity electronics that the auctioneer finally exclaimed, "Haven't you people heard of Best Buy?!"

 

[elronin]

When the one near me closed, the deals were not good. Some things could be found cheaper on sale at non-closing Sears stores. There were some deals but I was disappointed in the prices as a whole. Maybe this will be different?

Yea same here down in Miami they closed a store about 2 years ago, the prices were so so, would stop by everyday. The last day everything left was 90% off the day before was like 50% off. a lot of jigsaw blades, drill bits, and sandpaper at good prices. But the tools were all gone way before that.

 

[cburnscrx]

I'll also say this, once those 60 days are up, or getting close to it, make an offer on items they can sell to you in bulk. Say...I'll buy all the jeans for $2.00. Since the end comes down to pieces parts, they'll usually take it. Keep what you want and sell the rest on ebay. The key is to speak to the liquidator, not the store manager or other managers as they no longer control the inventory. The liquidator wants to get out of the store as fast as possible, so rather than waiting around to sell every last little part, they want to move volume.

 

[BeaverPuncher]

***** . They run some decent deals at the franklin one .

 

[allinon72]

The uninformed consumer ruins any good deals to be had at liquidation sales.

 

[bmrisko]

Bummer. Franklin TN is my local store. Where did you see it posted? Sears doesn't really make sense. The Franklin TN store is in the heart of one of the major Nashville Malls and is in one of the more affluent areas of TN. Williamson county is one of wealthiest counties in the country. If they can't gather enough business in this store I fail to see how other stores over North America could fare much better.

I was thinking the same thing...if any Sears would survive it would be the one at Cool Springs. I wonder what will go in to replace it.

 

[djb2]

The last liquidation sale I went to was at an OSH.

I didn't know that store was closing, I just wanted to buy an less common light bulb they stocked at a good price. It was marked up to a much higher price than before. I confirmed the mark-up by buying the same bulb at a store that wasn't closing.

They also followed the script by bringing in a bunch of dollar-store-quality products that the store had never sold before, along with items best described as 'random junk'.

 

[03protege]

Bummer. Franklin TN is my local store. Where did you see it posted? Sears doesn't really make sense. The Franklin TN store is in the heart of one of the major Nashville Malls and is in one of the more affluent areas of TN. Williamson county is one of wealthiest counties in the country. If they can't gather enough business in this store I fail to see how other stores over North America could fare much better.

If it is truly one of the wealthiest counties in America it should be quite apparent why Sears would not make it.

Appliances - Maybe
Automotive - Not where I would take my 7-series (assuming I had one)
Baby - lol yeah right.
Beauty & Health - no way.
Bed, Bath, Home - That's what interior designers are for.
Books & Magazines - I didn't even know sears sold books and magazines.
Clothing, Shoes, Jewelry- LOL no.
Electronics - Sanyo or Sony. LG or Martin Logan. Install it myself or have a team of experts install it sync to my harmony remote and teach me how to use it.

Fashion - I don't think Sears has anything that can be found in the pages of Vogue.

Fitness - Health club.
lawn and garden - Landscaping company.
Music movies games- Itunes Netflix
outdoor living- Will pay someone to build and install their outdoor living area.
tools- Will pay someone to fix anything that may break.
Toys- Amazon prime. Boom.

 

[byoungblood]

Yet a couple of stores in the ghetto in Memphis remain open. One in a mall where they are the last real tenant and apart from 2-3 folks walking around the tool department, the store is mostly empty.

But yes, it is very common for the liquidators to bring in a bunch of items, probably stuff they got stuck with from other liquidation sales, to keep the place looking full and keep people coming in the door.

 

[kc-steve]

Evidently the liquidating company's strategy works since people are saying that others buy most of the stock out. Maybe there's a crowd out there that looks specifically for closing companies thinking they will get a better deal.

Does anyone know if the liquidators own or bought the old stock? I've often wondered if they buy it ALL up at deep discount with the provision of selling it all or keeping what they don't sell. That would explain a lot of things.

Steve

 

[rsieracki]

it varies by the 'deal'. in a bankruptcy the liquidator bids on the inventory in bankruptcy court. in a 'store closing' USUALLY they take innventory and after the 'cost' of the inventory is established they have a threshold system with the retailer being its 'costs' X, and depending on the end total amount the 'profit' is split between the store and the liquidation company... and the consultant who ran the sale and the store management usually gets a bonus... and severance as they dont all get jobs... most get to try and find a new job.

oh and it ALL sells... people will buy anything with the perception of 'getting a deal' usually in the end its the dregs of the earth funneling thru... think "the people of walmart"

 

[kc-steve]

Sheeesh! I would have a hard time sleeping at night, or looking at myself in the mirror if I made a living that way. Too bad the economy has a place for those vultures.

Steve

 

[rsieracki]

Sheeesh! I would have a hard time sleeping at night, or looking at myself in the mirror if I made a living that way. Too bad the economy has a place for those vultures.

Steve

im always confused when people make statements like that... its business... if you dont like the product or the price dont buy it... but dont begrudge the seller when someone else does.

its the same principal most businesses run on... buy low, sell high. the store is closing reguardless (the store mgmt makes that call), the store is 'cheaper' to sell it all then pay to move stale merchandise to another location. the only thing 'moved out' is vender owned merchandise (like cosmetics, some designer etc) most is 'blown out' as its aged. most of whats moved in is regular merchadise from other stores thats a big stagnent or more commonly known as 'overstock'. consumers love items 'discounted'... its like something for nothing... the towns ive done store closings at (from poor to wealthy and everything inbetween) all have the same comments/attitudes/questions from the customers and employees etc... its like the same movie with different actors.

 

[PugetDude]

So, the only thing worse than being screwed by Sears on quality is to get screwed worse on price at a going-out-of-business-sale?

 

[rsieracki]

lol.... you dont have to buy it...

back to the OP's question on tool discounts (i think that was the OP's question)...

like anything else, do your research and you wont get screwed... "sale" doesnt mean its a good 'deal'... a good deal is a state of mind!

 

[kc-steve]

im always confused when people make statements like that... its business... . . .

I think you've misinterpreted me. I have a degree in economics. I wouldn't want to do what they do, but that's me. If the economy was in good shape then liquidators (or vultures) wouldn't be needed to feed off the dead and dying. But unfortunately they have a place these days. I also think about the lives that have been destroyed due to the bad economy.

Steve

 

[rsieracki]

perhaps i did

 

[mikede]

Bummer. Franklin TN is my local store. Where did you see it posted? Sears doesn't really make sense. The Franklin TN store is in the heart of one of the major Nashville Malls and is in one of the more affluent areas of TN. Williamson county is one of wealthiest counties in the country. If they can't gather enough business in this store I fail to see how other stores over North America could fare much better.

If it is truly one of the wealthiest counties in America it should be quite apparent why Sears would not make it.

Appliances - Maybe
Automotive - Not where I would take my 7-series (assuming I had one)
Baby - lol yeah right.
Beauty & Health - no way.
Bed, Bath, Home - That's what interior designers are for.
Books & Magazines - I didn't even know sears sold books and magazines.
Clothing, Shoes, Jewelry- LOL no.
Electronics - Sanyo or Sony. LG or Martin Logan. Install it myself or have a team of experts install it sync to my harmony remote and teach me how to use it.

Fashion - I don't think Sears has anything that can be found in the pages of Vogue.

Fitness - Health club.
lawn and garden - Landscaping company.
Music movies games- Itunes Netflix
outdoor living- Will pay someone to build and install their outdoor living area.
tools- Will pay someone to fix anything that may break.
Toys- Amazon prime. Boom.

It is one of the wealthiest areas in the Middle Tennessee area. You make a good point. Also the fact that many other retailers are at Cool Spring Galleria... not to mention the surrounding area. Lowes, Home Depot, Sams Club, Wal-Mart are also fairly near by.

 

[mikede]

I was thinking the same thing...if any Sears would survive it would be the one at Cool Springs. I wonder what will go in to replace it.

Given the weak economy..... my guess would be that the building will be vacant for quite sometime.

 

[bmrisko]

Given the weak economy..... my guess would be that the building will be vacant for quite sometime.

The economy in Williamson County has remained strong for awhile. I have never seen a parcel sit empty at Cool Springs for long...I imagine that they already have plans for a new tenant.

 

[mikede]

The economy in Williamson County has remained strong for awhile. I have never seen a parcel sit empty at Cool Springs for long...I imagine that they already have plans for a new tenant.

Maybe in the past... I suspect that is not the case this time. If anything, JCPenny may be next.

 

[Hootbro]

So, the only thing worse than being screwed by Sears on quality is to get screwed worse on price at a going-out-of-business-sale?

So when you shop anywhere, you just assume what is presented as a "discount" is a discount?

All retail establishments play games with sales and use of buzz words. It is called marketing and the buck stops with the consumer being educated first before buying, not the seller letting you know if what they are offering is truly a deal.

 

[polexican23]

Well Kmart actually owns Sears now. The money is in the real estate right now. They can close down stores that havent made a profit in the last 2 years. They did the same for Kmart after bankruptcy and Kmart is actually carrying Sears in the last Qtr earnings.

But here is some info for you. If you are local to a store closing and you are looking into getting a lift (alignment, lowrise, 2 post, 4 post whatever) or other shop equipment. Try to contact the District manager, they are always scrambling at the last minute to get ride of awesome stuff. I just got wind they are selling about 4 scissor, a couple of hunter alignment racks and other items for less than 10K.

 

[rsieracki]

Well Kmart actually owns Sears now. The money is in the real estate right now. They can close down stores that havent made a profit in the last 2 years. They did the same for Kmart after bankruptcy and Kmart is actually carrying Sears in the last Qtr earnings.

But here is some info for you. If you are local to a store closing and you are looking into getting a lift (alignment, lowrise, 2 post, 4 post whatever) or other shop equipment. Try to contact the District manager, they are always scrambling at the last minute to get ride of awesome stuff. I just got wind they are selling about 4 scissor, a couple of hunter alignment racks and other items for less than 10K.

equiptment is sold by the 'fixture liquidator'.... same company as the store liquidator sometimes the same person depending on volume etc. ANYWAYS... make contact, leave your name, always offer half of what there asking, you will have to come up some or wait it out but there is ALWAYS room to hagle on fixures/equiptment/supplies etc... miles and miles of shelving in most department store stock rooms... the "fixture" part is all profit to them and they will usually sell it cheap as the building must be 'broom clean' and empty at the end. but if you want it, buy it, once its gone its gone

 

[BeaverPuncher]

CBL is choosing not to renew the leases at both locations. The coolsprings location is going to be turned into high end eating and shops they said.

 

[bmrisko]

Maybe in the past... I suspect that is not the case this time. If anything, JCPenny may be next.

There isn't a JCP at Cool Springs...looks like the mall has already planned to split the Sears store up for smaller boutique stores and bring in another restaurant.