Thread regarding Sears layoffs

Jakks Pacific Said to Suspend Toy Sales to Kmart

/>

This does not sound good for Kmart.

by | Post ID:
1647 views | 20 replies (last )
Comment! It's anonymous! Reply to this post anonymously by submitting the form near the bottom of the page!

20 replies (most recent on top)

OH great, my prediction was correct. SHC tried the disgruntled vendor trick and claims they pay their vendors on time.

Why am I not surprised?

by | Post ID:

That's what happens when you don't pay your bills. Eventually people get smart enough to quit sending stuff to you.

by | Post ID:

They've " blocked and feathered " our local K Mart with wider aisles and lower shelving to try to hide the fact that they are much lower on inventory.

Having worked decades in retail, you kind of know the tricks.

Cant wait to see what happens with the spaces when the Halloween items that are unsold go to clearance. There's a ton of it and only 2 days left to sell it.

Maybe they can convert it into a bowling alley.

by | Post ID:

I recently transferred to another high-volume Kmart. I can attest that we are loaded with seasonal (Halloween and Christmas) merchandise. Our most recent shipment included 10 pallets of toys in advance of Black Friday. However, for run-of-the-mill general product - sale items especially - we're out of many and some counters are nearly empty. Despite conducting inventory in July, our on-hands are grossly under-inflated. Lastly, and unrelated, while not being a profitable location, our three ASMs will remain salaried on January 1, 2017.

by | Post ID:

Thank you Credit Manager for posting your professional insight on this situation!

by | Post ID:

Credit manager here. The company I work for ended our relationship with SHLD a few years ago. It's just like 2gzt said: I didn't want to go to my manager and say that we had a bunch of credit exposure on a risky customer. Thank goodness the salesperson I worked with on the account was well aware of SHLD's financial situation and was more than happy to find a new home for the products in question.

As a credit manager, hearing even rumors of bankruptcy make me nervous and twitchy. We have to worry about preference claims as well as the exposure itself. Defending against one of those isn't fun, so it's a balancing act between "do we keep selling?" and "when would we be in the clear for preference?"

by | Post ID:

Inventory has been substantially reduced however the company is making it sound like this is a good thing. The idea that we won't buy the thing we don't sell don't hold weight when stores simply aren't getting key inventory

by | Post ID:

Don't these vendors read boards like this? Why would they ship anything when they can read how this company is going down the drain fast. Also, we haven't got much Christmas merchandise yet and it is almost November. Just a few trees, some ornaments and stockings. Last year we had pallets of stuff. The stuff we do have looks like it is left over from last year.

by | Post ID:

We need to start a go fund me account for Sears. Dont let Sears bankruptcy stop your kids from getting toys at Kmart-Sears please donate now. If Obama would give us like a Billon dollar Stimulus loan, we could avoid closing for another 90 days. Come on Barack help us out, go fund me.

by | Post ID:

There's nothing more insecure than a credit manager. Jakks isn't that big of a product deal, but the precedent here is key. NO credit manager wants to be grilled on why he allowed merchandise to ship to a distressed retailer when others had halted shipment. Usually the sales guys win this argument saying "we have GOT to book this revenue or we don't make our bonus" and who doesn't want to make bonus. But once the tide starts going out, it just feeds on itself...

by | Post ID:

Bankruptcy is now a waiting game. If the banks and the vendors won't issue credit or ship then the game is up before Christmas. If SHC can pay up front for Christmas merchandise then it will be after the first of the year. If banks won't lend to vendors to manufacture and ship products to a certain retailer then the vendor has no other option than to stop shipments unless the retail establishment can pay up front.

I would say that once one vendor starts to not ship then the rest will follow. Only hope is if Eddie loans the company money or pays for Christmas shipments. It is over.

by | Post ID:

After discussing with large banks did Jakks come to this decision. This isn't one vendor hastily stopping shipments. The banks are recommending it!! The end is very near.

by | Post ID:

, that was funny posting under "King Eddies" name. Who else has quit shipping?

by | Post ID:

We are not going bankrupt but we will be using the proceeds from the asset sales of KCD to plug the pension hole and to accelerate store closings.

by | Post ID:

They will start using smaller vendors and purchasing grey goods next.

by | Post ID:

I suspect personally, that maybe?

Bankruptcy will be filed after several vendors as in 15-20+ major vendors stop shipping?

I give the bankruptcy filing before thanksgiving?

When do you think the bankruptcy will be filed??

I think SHC will try to spin this issue and claim it is a "Disgruntled Vendor" and that SHC always pays on time for its products.

Along with the rest of the corporate BS.

by | Post ID:

Many to follow

by | Post ID:

What is the status of the Spring inventory ? It should be on the water now.

by | Post ID:

They all fall in line quick. This is how the end at Circuit City worked. The suppliers say when it is over. Sears does not have the cash to pay up front to the majority of suppliers.

by | Post ID:

And so it begins. Exactly how CC closed their doors. Saw another vendor accepting only COD payments from SHC. I give us 3 months. The end is very near!! Thank god!

by | Post ID:

Understandable, from their business perspective SHC is running out of money. I wondering if other SHC suppliers will quit shipping to SHC DC's? With Christmas being less than 2mts away will SHC have any toys or electronics to sell? That is the big question.

I am wondering after this supplier suspends sales to SHC. How many suppliers will follow suit in stopping shipments to SHC DC's?

by | Post ID:

Post a reply

:

Related pages


cisco jobs san josewindstream little rock arwhole foods work daynatinal oilwell varcoglendale americana apple storest vincent hospital hot springs arsyntel address in chennaiwalmart 546journeys knoxville tnemployment with loweshospitals in temeculatodd nelson edmcsabre holdings bangalore reviewibm layoff alliancemaxlinear carlsbadlast pay stubsears repair center houstonconvergys okccatalent layoffsavago technologies pte ltdwww.netsecure.adp.comwalmart wireless hourshhgregg north olmstednordstrom in pasadena casales associate staplessears liquidationjohn deere engine worksnci building systems incfluor irvingmercy hospital bakersfield cavonage tickermerrill lynch employee stock purchase planlease kmarttacoma general allenmore hospitalge hitachi wilmingtonwhole foods encinitaslist of ruby tuesday locationsyum brands tickerwf bankingaig amarillo txconsol energy layoffssearscard com mastercarditt technical institute south bendblackrock state streetst louis layoffsh1b scamcablevision plangermandeli.comgreen mountain coffee windsor vaallstatejobsthrustmaster of texasboeing okcnrtw.orgocean rig udwsamson oil & gas limitedfoster wheeler trinidaddeloitte denver jobshertz car rental oklahoma citymarchex.commarkelcorpsears auto saugusjcpenney greenville scchicago bridge rulesbabson capital charlottepaycore.comabbvie rumorsxerox corporation philippinessonde resources corpverizon wireless stock historylowes in minnesotainfoblox incmsft layoffsphh mortgage for sale