https://www.reuters.com/article/brief-pf-industries-elects-not-to-renew/brief-pf-industries-elects-not-to-renew-supply-agreement-with-sears-idUSASB0BSVF
Another vender pulled out
12 replies (most recent on top)
Vendors don't issue warnings they may not be able to collect $1.1M in receivables from long time customers every day.
So many inaccurate statements on this posting. So much of this is everyday business with companies not the end of the world.
The more notable thing is the warning that they aren't sure they will be able to collect the accounts payable. They feel there's enough risk they have to tell their shareholders. That the domino effect Toys R Us had.
@mig I know you’re not Oakland mall or lakeside, which store? Or even county?
I’ve been in them all and I don’t see much stock at most.
SW Florida here. They have reset the displays in our store. The aisles are now so wide you could park a car in them. We have lost a significant amount tools. They have even started to bring in lawn and garden tools over to fill shelf space.
Our tool department is stocked and we get stock in weekly.. 3-4 flatbeds per week.. don’t know if it’s from Christmas season or redistribution from closed stores..
Our Christmas tool bars are overflowing too
We are even getting displays of ping pong tables built that I have not seen in a few years
We have an abundance of treadmill and stepper displays
We are even getting air hockey, basketball and plenty of dartboards
I love working at my sears store, in Michigan. We have a lot of great employees and our management team does try their best.
We do have some, not many, employees that need to pick up their speed but eventually they hang themselves because our management team is tired of putting up with them and their shenanigans.
As others have said, just because it isn't a "major" vendor doesn't mean it isn't a big deal either. It will for sure cause other vendors to want to pull out. And when you are suppose to be a "major" retail company, the less product you have the worse the company becomes.
@lge Thats not the point though when one starts puling out more will follow. This 3Q was bad once again companies don't want to gamble money they might not get if they file for bankruptcy.
@1ge - Air tools are a bigger deal than you think. Not as big a deal as losing core product like Whirlpool (which, along with Maytag and KitchenAid was 2nd in line from Kenmore in sales volume at Sears, by the way) but many pros and even DIY homeowners use air tools. That's one less thing/category we will carry. It might also cut into compressor sales.
It's not going to be the end of Sears, but it's just one more supplier heading for the exits. We've got lots of suppliers of varying importance and size bailing on us.
P & F supplies air tools. Big deal
Anybody else notice there tool department isn't getting restocked with product
It is over. I would start looking today for a new job.