Sears sells Craftsman to Stanley - the fail continues

[nrc]

Someone should do a "Sears Tycoon" video game where the object is to save Sears. You may not be the next Jeff Bezos but you probably can't do any worse than Eddie Lampert.

[TravelGal]

Someone should do a "Sears Tycoon" video game where the object is to save Sears. You may not be the next Jeff Bezos but you probably can't do any worse than Eddie Lampert.

:laugh::laugh::laugh:

[cameraman]

and now we have Transformco. Whatever that might be.

Just got this email tonight:
Dear Valued Customer,

On February 11, 2019, Transformco purchased substantially all of the Sears Holdings assets*. As part of that sale, Transformco acquired Sears Holdings’ customer information, including personally identifiable information.

At Transformco, we want to ensure that you know that your privacy is important to us, and that our privacy policy is just as protective of your privacy as the Sears Holdings policy.

At Transformco, we constantly look for new and innovative ways to improve your shopping experience online and in stores. To reflect these improvements, we are making changes to our Privacy Policy.

We encourage you to review the policy in its entirety, but we would like to highlight a few key changes for your review:
We provided greater detail on the types of personal information we may collect and how we may use that information, and
We updated the Privacy Policy to address the rights afforded to California residents under the new California Consumer Privacy Act.
The policy can be viewed by clicking on this link: https://www.transformco.com/privacy

*Brands and assets acquired include Sears, Kmart, Shop Your Way, Kenmore, Diehard, Sears Auto Center, and Sears Home Services.

[devilmaster]

and now we have Transformco. Whatever that might be.

Just got this email tonight:

big shocker here....


Transform Holdco LLC (also known as TransformCo, referred to as "New Sears")[5] is an American privately held company formed on February 11, 2019, to acquire some of the assets of Sears Holdings Corporation. The new company is owned by Edward Lampert's ESL Investments hedge fund of Greenwich, Connecticut. Following the Chapter 11 bankruptcy filing of Sears Holdings on October 15, 2018, Transform Holdco LLC purchased the surviving assets owned by Sears Holdings for $5.2 billion.[1]

On June 3, 2019, it was announced that Transform Holdco LLC would acquire Sears Hometown and Outlet Stores. As per deal, they might need to divest its Sears Outlet division to gain approval

eddie. of GDMF course. :flaming::flaming::flaming:

[devilmaster]

looking around at transformco's website (which has -no- mention of eddie lampert or seritage or esl)...

Found this press release gem: https://transformco.com/press-releases/pr/2136


HOFFMAN ESTATES, Ill., May 31, 2019 /PRNewswire/ -- There have been multiple reports that Transform Holdco, LLC ("Transform") is backing out of an agreement to pay severance to employees who were terminated during the Sears bankruptcy. These charges are false. To be clear, employees of old Sears who lost their jobs during bankruptcy have already received their severance payments. The approval that Transform has sought from the Court is to be released from its conditional obligation to reimburse Old Sears for making those severance payments. In the asset purchase agreement, Transform agreed to reimburse Old Sears for these severance payments in exchange for the receipt of certain assets. Old Sears has admitted that $55 million of those assets have not been transferred to Transform, although Transform believes the amount is larger. As a result, Transform is not obligated to reimburse Old Sears for having made the severance payments. In other words, this is a dispute between Transform and Old Sears, and no severance payments to terminated employees are "at risk."

Now remember, this is a company of eddie lampert (probably wholly owned), buying a company of eddie lampert (with shareholders).

:mad::flaming:

[nrc]

Separation from the dying Sears brand turns out to be the best thing to happen to Craftsman in ages. Nobody wanted to go into those dreary Soviet era Russia retail stores just to buy a screwdriver.

Of course you still have to decode what products are coming from where and the jury is still out on what the net result will be for brand image. But I've bought more Craftsman tools the last year at Lowes than I did from Sears the previous five.

[G.]

Separation from the dying Sears brand turns out to be the best thing to happen to Craftsman in ages. Nobody wanted to go into those dreary Soviet era Russia retail stores just to buy a screwdriver.

I hated trying to run the gauntlet of appliance salescritters that blocked my way to the tool section.

:rolleyes:

[chop456]

Dug an old Craftsman ratchet out of the tool cave today and it seems to have given up the ghost. Glad that I can take it back to Lowe's for a replacement.

Speaking of Lowe's, I bought one of their double-speed ratcheting screwdrivers last week. The one that the end of the handle unscrews so that you can store the included bits inside. The bits are too long to fit inside. Not kidding. :shakehead:

[gerhard911]

Dug an old Craftsman ratchet out of the tool cave today and it seems to have given up the ghost. Glad that I can take it back to Lowe's for a replacement.

Speaking of Lowe's, I bought one of their double-speed ratcheting screwdrivers last week. The one that the end of the handle unscrews so that you can store the included bits inside. The bits are too long to fit inside. Not kidding. :shakehead:

Good luck with your return. I had a Craftsman torque wrench that took a crap & was told the "Lifetime" warranty didn't apply. :rolleyes: