S-K Tools Files for Bankruptcy

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1972Swinger

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Anybody heard about this?

S-K Tools filed for bankruptcy a few days ago, and is going to be bought by another company. Hope they don't get sent to China like Vise-Grip.

I have grown up using my Dad's OLDER Craftsman, Snap-On, S-K, and Armstrong tools, and I have always loved the S-K's. I was saving up to buy a set of combination wrenches as we speak, but I guess it is too late. They were still made in USA too.

http://www.garagejournal.com/forum/showthread.php?t=68464

Another good nearly-century-old American tool company down the drain. :angry7:

Anybody have some suggestions for a quality source for combination wrenches outside of Snap-On or Craftsman? Armstrong is a bit steep, or I would go with those. (See the "WANTED" section of my signature. If you have any older tools of those brands you would like to sell, PM me.)
 
I had heard the rumor. The tool store in my town sells S-K and mentioned they were having difficulties.
 
Check out Clark's Tool.
There are a few stores in KC, and they had the SK line, if memory serves.
You might still be able to get them.
 
that's too bad. they made some dang good tools for the money.
 
1972Swinger said:
Anybody heard about this?

S-K Tools filed for bankruptcy a few days ago, and is going to be bought by another company. Hope they don't get sent to China like Vise-Grip.

I have grown up using my Dad's OLDER Craftsman, Snap-On, S-K, and Armstrong tools, and I have always loved the S-K's. I was saving up to buy a set of combination wrenches as we speak, but I guess it is too late. They were still made in USA too.

http://www.garagejournal.com/forum/showthread.php?t=68464

Another good nearly-century-old American tool company down the drain. :angry7:

Anybody have some suggestions for a quality source for combination wrenches outside of Snap-On or Craftsman? Armstrong is a bit steep, or I would go with those.
Click to expand...
Are Mac tools any good??? there are a few trucks running around here in GB WI that i have seen, have not ever used any of thier tools though.
 
412 Stroker said:
Are Mac tools any good??? there are a few trucks running around here in GB WI that i have seen, have not ever used any of thier tools though.
Click to expand...

YEP! They are in the "Big 3" along with MATCO and Snap-On.

Really high quality tools, but you need to sell your first born to buy a socket set.

My Dad loves Mac, and uses it at work more than any other brand.
 
Bankruptcy does not mean going out of business. They may survive.

Holley went into bankruptcy last year. Now they're out.
 
That because for some reason the majority of the people want cheap crap, not as concerned with quality, especially with tools. I'm my plumbing business, I can see nearly a year by year drop in the quality of power tools. I used to only by Milwaukee and porter cable, but they are junk now too. I bought a "nice" Milwaukee cordless hammer drill last month with lithium ion batteries, in less than a month, one of the batteries will not recharge and had to return it. Junk, Junk, Junk.
 
This big "catch-22" is one of the reasons our economy is so bad. We demand good quality, but we also want cheap. Unfortunately, they are often mutually exclusive. More often than not, we go the cheap (ie. import) route which puts the high quality manufacturers (American) under too much pressure to survive. By the time we take a stand against buying more of the cheap, poor quality products, we no longer have a choice; the companies that made the good stuff are out of business.

Save your money until you can buy American.
 
SK Hand Tool assets sold to Ideal Industries
By: Lorene Yue August 23, 2010


(Crain's) — SK Hand Tool Corp.'s brand name has been sold to Ideal Industries Inc. through a bankruptcy auction.


Sycamore-based Ideal Industries Inc. was the highest bidder for some SK Hand Tool assets, which were put on the market after the company sought Chapter 11 bankruptcy protection in June.


SK Hand Tool, which was founded in Chicago in 1921, will become a subsidiary of Ideal Industries, which manufactures tools for the electrical industry.


Doug Spitler, a vice-president at Ideal, will head up the SK Hand Tool division.


The deal, worth more than $3.5 million according to bankruptcy documents, is scheduled to be approved by a bankruptcy judge on Wednesday.

Ideal Industries will decide within 30 days after the closing if it will manufacture SK Hand Tool products at one of Ideal's existing plants or build a new facility, the company said in a statement.


The purchase of SK Hand Tool's assets did not include any employees, plants or real estate, an Ideal Industries spokesman said.


SK Hand Tool is the third acquisition Ideal Industries has made this year. Ideal earlier purchased Western Forge of Colorado and Pratt-Real Tools LLC of Connecticut.


SK Hand Tool was hit hard by the economic recession and at one time owed its primary lender roughly $9 million.

The manufacturing firm stopped offering health benefits to its workers last summer, a move that prompted 70 union workers from Teamsters Local 743 to go on strike.

At the time, SK Hand Tool officials said the company was unable to control the factors that led to its inability to offer health insurance. By the time SK Hand Tool filed Chapter 11 bankruptcy, its plant in Defiance, Ohio, had ceased operating and only a few workers were left in its Chicago facility.

http://www.chicagobusiness.com/arti.../sk-hand-tool-assets-sold-to-ideal-industries
 
I still have my old school Crew-Line tools from Checkers when I was 14 that Ive kept since my dad mostly bought them for me,lol.Even though they were Taiwan ,never had a problem with them.
My pro tools are a mix of Snap -On(the majority of them)Mac,Matco,Craftsman and Cornhole(Cornwells,but I call them Cornholes)
Nothing wrong with Craftsman,whenever I broke something,Sears never had a problem replacing them and they are good for the price.
I will check my "old" tool box,I have a couple of boxes full of misc. tools and I think I have some old Plomb,Protos,and other old tools (i think I have some old wrenches that have "Kmart" stamped on them,lol)
Whenever I walked into the tool trucks,I always had to resist the urge to buy something,even though I always ended up walking out with a screwdriver set or something just to get a free cap,lol
 
Very sad. I started off my collection of wrenches with S-K ½" drive sockets at age 16. Still use 'em a lot. Other than breaking a ratchet drive (replaced under life-time warranty almost 40 yrs later), I have had no problems. My hope is that they maintain the quality of their product and that the doors do not close.
 
We had a mob here called " Sidchrome "....they were bought out by Proto....which in turn got bought out by Stanley. Caterpillar used to have 2 manufacturers for their tools...Snap-on and Proto......but now use a mob called " Williams ".
What are Williams tools worth there???
 
FWIW: I'm a technician by trade and own Snap-On tools. I have sockets from 35 yrs. ago that are just recently starting to crack and spread. The replacements I receive last *maybe* a year or so. Want to know why? China.

S-K was one of the last American-Made tool manufacturer's out there. I hope they survive. And believe me, those $300 wrench & socket sets sold by some of the "Big-3" tool guys are being made there too. All the new apprentice's I work with buy cheap...cheap...cheap tools. The "good stuff" is too expensive and not worth it.

Sad paradox..... :angry7:
 
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