Transformco and SearsHC has been known to slow pay vendors in the past, and you might think this is just because they are behind in processing, or short on cash. Nope, its completely manufactured. Everyone gets slow paid.... unless the buyer jumps thru hoops to get them on a list to not slow pay. It used to be as simple as getting them on a critical vendor list... until a few months back. Even "Critical" vendors are getting slow paid, and there is even a higher vendor list for "super duper critical" vendors that has to be approved by the big wigs to get paid.
I've seen first hand all the crazy chargebacks and penalties for anything and everything the vendors did (unless they had it in their contract that they could not be billed for these things, and even then the charges were attempted)
I can't imagine any vendors dealing with us, I've seen multiple small vendors excited to be landing a big deal at Sears to be at the point of tears because we weren't following our terms and even beyond that screwing them over as part of the plan. Businesses that have been happily running for years, but were small fries to be completely destroyed because of Sears slow paying, not paying, and the general "So sue me" attitude.
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Eddie will make sure he gets paid first, followed by his "yes" men and women.
And many vendors are being sued for recovery of payments that were already made. A few hundred more preference adversary complaints were just posted on prime clerk.
WhY aRE TheRe No vEnDoRS lEft?
How many millions of dollars of merchandise has this operation stolen from vendors with its offshore accounts payable department? The small vendors don't have the resources to fight for their money period. And everyone says Walmart is the most difficult retailer for any supplier! Oh and ... offshore accounting means the company is virtually untouchable by the feds and state AGs for a lot of these deliberate actions of theft.
The next bankruptcy is only a matter of time
Small companies are burned left and right by the company... Chargebacks and penalties... If an invoice doesn't have the right date on it, they will not let it get paid. Months will go by and they will tell the vendor tough luck, not obligated to pay. Heard this over and over from SGMs who tried to help local vendors get paid.
Y'all need to be pushing the credit card apps and SYW memberships. /s
Thats Right !!! Big 5's will save the company !!!
Who need tires, sell more services and alignments /s
They haven’t paid our tire vendors We haven’t been able to get tires for over a week now