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coad Thu Jan 05, 2017 8:40 am

The end is near if they're selling the crown jewel:

Quote: Sears Holdings Corp. agreed to sell its Craftsman tool brand to Stanley Black & Decker Inc. for about $900 million, marking Chief Executive Officer Edward Lampertís third move in the last two weeks to prop up the beleaguered retailer with fresh sources of funding.

Under terms of the deal, Stanley will pay $525 million at closing and $250 million after three years, the companies said in a statement Thursday. The buyer also will make annual payments on new Craftsman sales for 15 years. Separately, Sears announced plans to shutter 150 unprofitable stores in a bid to streamline the chain.

With Searsís department-store business continuing to bleed cash, Lampert has turned to selling and spinning off assets to keep the company operating. The hedge fund manager, whoís also the retailerís chairman and largest investor, agreed earlier this week to lend the company $500 million and said last month that affiliates of his firm would offer it a $200 million line of credit. Sears also has been reviewing its DieHard batteries and Kenmore appliance brand for potential sales.


I know Craftsman isn't what it used to be, but it's still sad to see Sears go down like this.

bigdog1962 Thu Jan 05, 2017 8:44 am

I was online yesterday purchasing a product and the two of the better known choices were to purchase and have it shipped from Walmart or Sears. Not knowing Sears fate, I went with Walmart. Glad I did.

Glenn Thu Jan 05, 2017 8:47 am

ACE Hardware has been selling Craftsman for a number of years. So it was no longer a draw to customers to come into their stores.

60ragtop Thu Jan 05, 2017 8:59 am

isn't this old news and it was decided that even selling the Craftsman brand wouldn't help with the sinking ship?

EverettB Thu Jan 05, 2017 9:01 am

Glenn wrote: ACE Hardware has been selling Craftsman for a number of years. So it was no longer a draw to customers to come into their stores.

Yes, I've bought a couple things there... if I didn't want to wait to order something online.

hazetguy Thu Jan 05, 2017 9:25 am

this topic has been beaten to death on www.garagejournal.com/forum/
if you want to read seemingly endess discussions about it, there are tons of threads there in the free parking section (must be a registered user to see that section) and the general tool section (can view without being a registered member).

i haven't set foot in sears for years, and any craftsman tools i buy are second hand USA made from flea markets.

KTPhil Thu Jan 05, 2017 10:18 am

OSH carried them for a while, too.

One of the draws of buying Sears/Craftsman was the easy replacement parts access. Order online, and pick up at a local parts-only shop. They often sold refurbished power tools there, too. Great deals and quick service. I expect those outlets to close now.

Sad.

coad Thu Jan 05, 2017 10:31 am

hazetguy wrote: this topic has been beaten to death on www.garagejournal.com/forum/
if you want to read seemingly endess discussions about it, there are tons of threads there in the free parking section (must be a registered user to see that section) and the general tool section (can view without being a registered member).

You're right, to Hell with TheSamba. Let's just shut this fucker down. VW's are played out, it's all about building pole barn garages in 2017.

60ragtop Thu Jan 05, 2017 10:58 am

So my stick built garage built by Craftsman brand tools is out dated ?:cry:

VOLKSWAGNUT Thu Jan 05, 2017 11:34 am

Sears Roebuck and Co.. has no one to blame but them selves.. and the millions that had no loyalty and decided to feed the Walton family and other mass supply outlets..

Sears did price themselves right out of business and will die as the generations that knew them the best and the way there were... die as well.

Sad.. the Sears with their BIG catalogs were some of the best in their day..

Im one.. that would rather spend a little more.. than to fight the people and shop at Wallhellmart and the like.. avoid it as best I can..

Its simply another sad demise of great American companies..

If you wont support something.... most times.. it simply goes away..



.

wcfvw69 Thu Jan 05, 2017 11:51 am

Montgomery Wards, Gemco, Woolworth and now Sears in the near future. Many are also watching for JC Penny's demise as well.

As many have stated, it's sad. I honestly can't recall the last time I was in Sears or bought anything there. If I did, it was in the tools section. The stores were depressing IMOP. Everything just appeared to be outdated there. Honestly, what is/was the draw to shop at Sears in the 2000's?

When these stores were enjoying vibrant sales, their competition was minimal compared to what's out there today. In the 70's and 80's, Sears was one of the only real BIG stores in my city. You had JC Penny and Gemco in the late 70's but Sears was the only big retailer. It's a massively different landscape in the retail sector today.

At the end of the day, these stores business models simply became outdated and their liquidation was inevitable. In a nostalgic sense it's a shame. In a business sense, it's reality.

bigdog1962 Thu Jan 05, 2017 12:11 pm

I quit going to Sears when they closed their stand alone building and moved to the mall. I absolutely hate going to the mall.

Enkiel Thu Jan 05, 2017 12:12 pm

early 90s, sears had a great catalog that every kids i know looked through for weeks before christmas.

I went there a few months ago, and their toys aisle was... some left over from the 90s apparently.

They had like 10 mower that looked new, but everything else looked... outdated.

hazetguy Thu Jan 05, 2017 12:22 pm

coad wrote: hazetguy wrote: this topic has been beaten to death on www.garagejournal.com/forum/
if you want to read seemingly endess discussions about it, there are tons of threads there in the free parking section (must be a registered user to see that section) and the general tool section (can view without being a registered member).

You're right, to Hell with TheSamba. Let's just shut this fucker down. VW's are played out, it's all about building pole barn garages in 2017.

perfect!
geez OLD MAN, cabin fever much? you clearly have no concept of what gj is all about. go crawl back in your hole on disgracebook.
just saying there is, and has been, A LOT of discussion about this on another tool/garage/car related forum, and if one was so inclined, one could read other input there, rather than the limited ass-hattery that a thread such as this on the samba seems to devolve into. and who knows, maybe one would find a forum/site they were unfamiliar with and could learn or find interesting things there. heaven forbid something like THAT would happen!

sears sucks. has for many many years. despite numerous attempts to salvage the company, it is a continual money bleeder. they should just let go of it and be done.

why not post something about Macy's closing a bunch of stores. now there's a winner!

Erik G Thu Jan 05, 2017 12:33 pm

wcfvw69 wrote: Montgomery Wards, Gemco, Woolworth and now Sears in the near future. Many are also watching for JC Penny's demise as well.



Gemco is Target. I remember that transistion when Lucky's sold Gemco to Dayton Husdon and they became the first Target stores. Still the same ones too...

bigdog1962 wrote: I quit going to Sears when they closed their stand alone building and moved to the mall. I absolutely hate going to the mall.

I'm lucky. I have 2 pretty close not attached to malls. They are not on the closure list...Yet

Enkiel wrote:

They had like 10 mower that looked new, but everything else looked... outdated.

Yep. I was in one the other day, I can't remember what for. I'm sure a specialist tool like a inside hex 6 or something... I ended up buying some nice work shoes at 50% off too...

I don't get how they can pay their sales staff. To be fair, the one I was at is in a part of town that is being gentrified and people are remodeling like crazy...

Thanks Coad - I wouldn't have known except for a former HOT VW's employee on FB

Air-Cooled Head Thu Jan 05, 2017 1:10 pm

"Edward Lampertís third move in the last two weeks to prop up the beleaguered retailer with fresh sources of funding. "

So my question is this; Prop up/funding for, what? Sears is/was known and loved for it's brands; Craftsman, Kenmore, et al.
If Eddie (met the man. An ass.) sells off all the assets (brands), what will Sears become, Family Dollar/Dollar General, or something similar?

Let's say I need cash to pay for my home. So I start selling assets.
First, it's my cars. Then my tools. Then the lawnmower and snowblower. Then the hand tools (shovels, rakes, etc). Then my furniture. Then the window treatments. Then the furnace & A/C. Then light fixtures, followed by the plumbing fixtures. Next it's the carpet and hardwood floors. Then the windows themselves. Then the siding, and finally the roofing.

Sounds to me like I sold myself into homelessness!

KTPhil Thu Jan 05, 2017 1:15 pm

Sears used to BE the internet before there was an internet.

By the '50s it was it's own mall. It had everything from clothes to appliances to toys to tools to garden equipment to tires and car repair to household goods, to... you get the idea. "Log in" by entering the doors and you could get anything. Volume buying meant good prices.

But as real estate prices (and hence taxes) and wages and benefits skyrocketed, it was really an inevitable demise.

Just ask Macy's, whose spiral is also just starting.

Funny, Sears was criticized in some quarters for coming to town and decimating the individual small shops. Much like Walmart is accused of doing today.

Now it's Amazon Prime for most purchases.

What will be next?

coad Thu Jan 05, 2017 1:30 pm

hazetguy wrote:
geez OLD MAN, cabin fever much? you clearly have no concept of what gj is all about. go crawl back in your hole on disgracebook.


No, I don't go there much cause I already know how to hang pegboard and draw little outlines of all my tools with a sharpie. But hey, whatever floats your boat.

Besides, I don't think I could handle this much excitement day in and day out:

Quote: I've got a combination of the two.
I have pegboard above the tool box and work bench.
All my sockets are on Craftsman rails (the ones with the square pegs and detent balls), so I know when I'm missing sockets.
My wrenches are in racks in my box, so I know when I'm missing them.

Pliers and screwdrivers are thrown in a drawer, and I don't know they're missing until I reach for one and it isn't there.

Hammers are on my hammer stand.

Body tools, chassis tools, service tools (like radiator fin pliers, wiper arm pliers, door panel clip tools, etc. etc.) are in the rest of the drawers.

Pegboard holds a full assortment of wrenches from 3/8 to 1 1/4, at least two of every size--and about 6 or 8 of 7/16, 1/2 and 9/16... so I'm not always wondering where the hell my 7/16 got off to! When I reach for the last one of those, it's time to stop and clean up all the tools.

Other pegboard and lay-out tools, a set of adjustable wrenches (small to huge), squares, my huge honkin channel locks, etc.


http://www.garagejournal.com/forum/archive/index.php/t-167340.html



Yup, that's one hell of a website, that Garage Journal.

KTPhil Thu Jan 05, 2017 3:29 pm



When I see pegboards like this in garage system ads, I roll my eyes. All that stuff could just be in one drawer. Wall space like that is meant for Pirelli calendars.

TDCTDI Thu Jan 05, 2017 3:38 pm

What a total waste of space (Sears too), if they put a zip tie through the big end then the scissors would hang perpendicular to the pegboard & only take up five rows of holes.



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