https://www.reuters.com/article/us-sears-vendors-insight-idUSKCN1B50E9
13 replies (most recent on top)
The vultures will be picking the bones clean soon enough..
Talk to your mattress people about vendor issues. Better yet, talk to the vendors and they'll confirm. This isn't "going thru a tough time", this is all a part of Eddie's plan. Its what he does.
Repeat that last post in english, please?
@1zac Same I just realized that we lost that one time going to the store no more. We also lost apparently furniture (wasn't sell well and it was so overpriced) we are losing people little by little. Can't blame a vendor its like even going as small as a friend can you trust your friend if he ask for a loan? He has no collateral your basically gambling the $$$ you are to loan.
I'm always interested in this info because it's the free market speaking. Vendors realize working with Sears and KMart are a risky undertaking right now with the only payoff being that they'll get paid as they are supposed to. It's a comment on the state of the company and shows that closure despite Eddie's fantastical plans may be out of his control.
We recently lost our propane vendor too.
vendors should run. I'd refuse to get into any agreement with Sears at this point unless it's COD, or 15 day terms depending on the nature of the business.
I'm hearing this a lot at my Kmart. They are not getting paid and keep getting the run around. It is so bad that they are empty shelves with the blue tags starting to pop up and we even lost our natural gas tank vendor as well.
Funny I don't see it that way. It is a tough period. The company needs to change, and it is trying to. Not everything will work the way it was planned to work. This is just life.
Tough period is inadequate to describe the current state of affairs. Vultures circling above tour store
Why such a fascination with all of this? Is this really that "juicy" of news that people want to read? It always floors me when there are articles like this. Come on, we all know that we are going through a tough period right now. Why make it worse for all the hard working associates? I have no issue with Eddie Lampert. Sears has had a rough go of it now since the late 80's. What has become of Sears is NOT all the "doing" of Eddie Lampert. He is a very rich man yes, but it is what it is. I don't harbor any ill will toward him just because he is rich or because of what he is or isn't doing for Sears. It is just life. You work as hard as you can for yourself because that is who you are, and if things don't pan out, you move on.
@ygr You are probably the only one then, I've spoken with multiple people from multiple BUs and some vendors directly that either asked for a change in terms, or flat out won't ship. Yes there are some new vendors filling the gaps, because they want their foot in the door.
I even had contacts within the insurance providers about two years ago that this would be happening.
Here is the thing, just about everyone could see this coming, I'm sure none of this has blindsided Eddie. I'm sure he has a scheming plan to make this work for him as well.
For all we know he may want to remove himself from having any traditional vendors at all, and just sell shelve and webpages for others to sell on his properties, and then just take a %.
Funny.....this really feels to me like someone planting this here from the outside to see if anyone will say anything negative. I still get calls from new and current vendors, so this is not 100% true. I am sure there are vendors who are nervous as they are with many retailers today.