Sears under bankruptcy ///

Discussion in 'The BS Topic' started by bluebetsy02, Sep 27, 2014.

  1. bluebetsy02

    bluebetsy02 Veteran Member

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    protection.. Any skinny on this tidbit?? Read in a French paper this morning that Sears is close to or undergoing protection. My Francais is not real good but, have you guys heard anything on the above?
    Thanks~!
    T..
     
  2. CDesperado

    CDesperado Veteran Member Lifetime Gold Member

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    That's been coming for a long time. Penny's is in trouble too. What do you want to know? Plenty of articles written about this.
     
  3. bluebetsy02

    bluebetsy02 Veteran Member

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    What would happen if I owe Sears say a couple of thous. and they go under?
    Now on the other side, what would happen if I had say, aluminum windows under warranty by Sears? What happens to the warranty. (s)
    If I have a load of Sears points built up over the years, what would happen to them in the event Sears takes the 'proverbial dive'??

    Thanks C.Desperado, I'd appreciate your knowledge and perhaps "steering me" in the correct directions re. the above.

    Merci encore!!
    T.
     
  4. Rockhound

    Rockhound Veteran Member

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    If y'all have any craftsmen tools that need replacing, now would be the time to swap them out....
     
  5. Gary S

    Gary S Administrator Lifetime Gold Member

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    I wouldn't worry about your Craftsman tools. Sears moved Craftsman out to Lowes, Ace Hardware, K Mart, Summit, and many other places in the last few years because once Sears is gone, Craftsman will still be with us, but not in a Sears store.
     
  6. CDesperado

    CDesperado Veteran Member Lifetime Gold Member

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    They won't completely shut their doors any time soon. And filing for bankruptcy doesn't mean what you think it means. A lot of major companies use It as a way to do a corporate re-alignment and protect their assets. It doesn't mean they are out of business... And the process can take years.

    You still owe the money, unless they completely fold Montgomery Wards... and even then, they usually sell the debt to a collection agency, so you would still owe the money.

    As far as warranty's go... If they fold, then it's basically worthless. Sears is definitely in trouble, but I don't know if they will completely fold. It's more likely that they will continue to close stores and dramatically scale back on what they sell. Some experts predict that they won't make it past 2015, but they said that in 2013 and 2014 too.

    Either way... Your debt to them will need to be paid, it just may not be to them.
     
  7. Shizzle

    Shizzle Veteran Member

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    I wouldn't bother unless you like Chinese tools. Only Made in USA stuff is the very little stock on hand.

    I've found this out replacing my mechanics tools from the garage breakin.
    I've been buying from the flea market & eBay for made in the USA stuff.

    You can see & feel the difference in the Chinese stuff.
     
  8. dirtmod08

    dirtmod08 Veteran Member Gold Member

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    Their ratchets are garbage, I can hardly use them. Kobalts are much smoother, and I have yet to break one.
    Sears is just playing the game to get out of their debt, they aren't going anywhere - just practicing unethical business practices.
     
  9. ColdBastrd

    ColdBastrd Veteran Member Gold Member

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    Agreed. I'll only use mine (which have to be about 25 years old) if I have to. I always use my Snap-on's....which have got to be nearly 20 years old now lol. My only problem is half have orange handles and the other half have black and I should have got all orange....more easier to spot when getting deep into something and the tools are getting put down & picked up all over the place. I do like the newer Craftsman sockets with big laser etched size labels on them though. Im getting older and theyre easier to read lol. Made in USA and I got them at a swap meet.
     
  10. 73Camaro383

    73Camaro383 Veteran Member Lifetime Gold Member

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    Sears use to sell some great stuff. They went down the crapper in the 90's
     

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