Rumors - SK
Posted by: PTEN editor
To paraphrase the great Mark Twain, “The reports of S-K’s death are greatly exaggerated.”
Recently, rumors have been circulating that S-K Hand Tools had filed for Chapter 11 bankruptcy. That’s simply not true, according to Cliff Rusnak, S-K’s executive VP. He does think the report was spawned by the Chapter 11 filing of S&K Famous Brands (http://cantorarkemapc.com/sandk-famous-brands.php).
In addition to not having filed for bankruptcy, S-K has recently released several new tools, including a new hammer set, sockets, and a full range of new dial torque wrenches.
Watch for more new products from S-K in the coming months in PTEN and our Online Buyers’ Guide.
March 26th, 2009 at 6:39 am
It’s kind of sad that bankruptcy rumors about SK even got started. When I was a kid outside of San Diego, almost every parts store in the area had SK tools displayed on tool boards behind the counter. Unfortunately, that’s not the case any more. I’ve used SK tools for years and would hate to see them disappear. I wish SK the best of luck and continued success in these crazy times.
March 27th, 2009 at 1:53 pm
They may not have filed for bankruptcy, but it is obvious that they are struggling. The last order we placed with SK had a fill rate of only 39%! That is atrocious! I think they need to concentrate their efforts on producing current items more-so than dumping big money into developing things like an air tool line (a market that is already super-saturated by IR, CP and all of the tool trucks!). They have been an awesome company producing superior products, I just hope they get back on track and stay around for many more years.
March 27th, 2009 at 2:01 pm
I think a lot of the rumors are stemming from the fact that most distributors are unable to get SK product, or even an ETA in some cases. I also heard from one of the WD’s I do business with, that SK was no longer offering terms and requiring pre-payment to even get product.
March 31st, 2009 at 4:50 pm
Regarding service levels, we have worked to increase the focus on our core hardline products for which we’re known. Starting last year, we introduced our popular Summer Steels and Winter Deals promotions that focused on socket sets, impact sets, bit socket sets, and wrench sets. This spring and summer, we’re offering a new promotion that highlights the best of the best in SK socket sets. The program is called the SK SuperKrome Socket Set Extravaganza. It features our best 1/4″, 3/8″ and 1/2″ drive socket sets at promotional prices with Free value added items. Please contact your SK WD for more information on this promotional program or the product details are listed on our website at http://www.skhandtool.com.
From a production standpoint, our manufacturing teams in our Chicago, IL and Defiance, OH plants have started using new planning tools to make production planning easier. In addition, we’ve recently added additional CNC capacity at our Chicago plant to help us become more customer responsive by adding technology that allows us to respond quickly to changes in demand.
Yes, we are faced with many new challenges related to the economic downturn like many companies today. Yet, we’re still in business and working to strenghten SK to remain the number one professional tool sold by independent distribution.
I understand that have been hearing rumors and have concerns about SK. I encourage you to call me directly if you have any questions, comments, or would like to discuss further. I can be reached at 800-SK-Brand extension 288.
Cliff Rusnak, SK Hand Tool Corporation
April 10th, 2009 at 6:44 pm
I never understood why anyone would want to purchase retro roundhead ratchet.
July 16th, 2009 at 10:34 pm
I certainly believe that s-k is headtng for
bancrupcy considering that when asked if they
were going to add 9&11 millemeter sizes to the
new G-pro ratcheting wrenches. Nathan Bruckert
replied that Toyota dont use them so s-k will
not be adding them. TOYOTA!!!!!. I always
believed that s-k was a u.s.a company. That
catered to our cars cartainly not to the
japanese cars.Let them know how wrong they
are!
January 2nd, 2010 at 4:42 am
I’m replying again because things appear to be getting worse for SK. I know tool sales are down,that the company went throgh a difficult strike last year, and that many independent distributors have stopped carrying the SK line. However, assessing a $5.00 per tool shipping, handling, and processing fee for each tool returned to SK Hand Tool Corporation for warranty replacement isn’t exactly the way to increase sales and instill customer confidence. I understand the need to cut costs wherever possible but, $5.00 per tool seems excessive when I paid for a tool with a lifetime warranty, and I paid to ship the tools to you for warranty replacement. However, the fee is a great way to reduce warranty claims. Unfortunately, with this change in warranty service, I’ll have to rethink all future SK purchases.