SK Tools is bankrupt

Really bankrupt bankrupt, or are they just closing a plant?

Either way, that's a pity -- I liked those tools, and you know that at least half of their market will end up being serviced by China.

Yep, IDEAL bought assets of bankrupt SK. Some assets are now being disposed of. Perhaps Ideal only wants SK's trademark.

i

Really bankrupt bankrupt. Ideal is dumping the machines at that auction.

I love their tools, too. I wonder what happened.

i

I still use the 1/2 inch S-K socket set I bought in the mid 1950's. Split a couple of sockets along the way, but everything else is perfect, but worn.

Paul

I just looked at a half dozen pages of that auction. Not much actual manufacturing equipment. Its a sure bet this is a surplus to operations sale. This site is being closed and equipment needed for future manufacturing has been moved out.

karl

I think so, too.

i

That is sad. I still have a few SK-Wayne tools that were my adoptadads. They made decent tools.

Wes

-- "Additionally as a security officer, I carry a gun to protect government officials but my life isn't worth protecting at home in their eyes." Dick Anthony Heller

At least it is a USA company buying a USA trademark at worst. I *hope* they also acquired some of the human intellectual assets be it engineer or the guy running the heat treat oven.

Wes

-- "Additionally as a security officer, I carry a gun to protect government officials but my life isn't worth protecting at home in their eyes." Dick Anthony Heller

I needed to install an Apex hard sear into my S&W M&P .40c. I didn't expect Saturdy delivery from Dillon Precision but there the package was, sitting on my door step this morning as I headed over to uncles to change out my tie rod ends.

Now I could drive 35 miles to work to retrieve my tools or 21 to the nearby sears and buy some pin punches and another 4 oz hammer. I should have this stuff in my range box so I went with buying tools at sears.

I carefully inspected the packaging and contents to make sure I saw made in usa on everything before purchasing.

I'll end up turning them in to roll pin punches at some point. Easy to do if you can hold the tiny end in a collet.

Wes

-- "Additionally as a security officer, I carry a gun to protect government officials but my life isn't worth protecting at home in their eyes." Dick Anthony Heller

made decent

But no more warranty. I think that Ideal will keep the SK brand, though. And as Karl pointed out, this looks more like a reorganization sale than a full outright liquidation. No really modern high production stuff is on sale, other than screw machines.

i

>

I dunno. Some of Ideal's stuff lately is crap. I just threw away a meter that was only a couple weeks old. I bet they just bought it for the name. Ideal makes a few things, but they just put their name on a lot of stuff. I don't know if other professionals have experienced lower quality from them in recent years, but if so they may just want the SK name for another reason.

I don't have much SK stuff, but I do have a couple really nice 1/4 socket sets I bought for my service trucks 16 years ago. I love them. I have one in the shop, and one in my service truck and used one just this morning. A third one I bought at the same time is no doubt loved by one of my former technicians.

They made decent

==>No really modern high

=========== More than likely this is why they went out of business and the screw machines are what was left from their war [WW1] production. Another company that survived the "great depression," denominator managed into oblivion. ["But we made the numbers every year but one" -- the last...]

-- Unka George (George McDuffee) .............................. The past is a foreign country; they do things differently there. L. P. Hartley (1895-1972), British author. The Go-Between, Prologue (1953).

========= For background see

For case study we will have to wait a while. However it appears from the number of times SK changed ownership all the juice [working capital] was squeezed from the pickle and maintenance/ new product R&D was deferred forever.

However Wiki states "The sale will happen August 25, 2010. SK hand tools will continue to be made 100% in the USA. [edit] Manufacturing Locations

SK maintains a Manufacturing plant in Sycamore, Illinois. SK will be manufactured in Sycamore, Illinois, in a brand new Manufacturing Plant."

In this case, it may have just been a creditor or union hose job. There was a management LBO in May 2005

also see for auction equipment list see

-- Unka George (George McDuffee) .............................. The past is a foreign country; they do things differently there. L. P. Hartley (1895-1972), British author. The Go-Between, Prologue (1953).

IMHO, this is the worst kind of auction to buy at. The good stuff is all gone. What's left is mostly broken and worn out. This is for machines. Normally good deals on supplies and materials and misc.

I used to get onesie SK combo wrenches from the local discount tool joint, had them right on the pegs. At the time, they were the only full-polish wrenches you could find, easy to wipe the grease off of. After a couple of years, all that could be bought was sets, then nothing but chink stuff. Craftsman offers full-polish now, but the open-ends have the tips of the wrench openings dubbed off, SK ran the opening straight out to a fairly sharp point. Makes a big difference when all you can get is a portion of the wrench onto a fastener. SK had a tie-in with some French tool outfit at one time, had some French- made specialty wrenches with SK labels. Don't know when that happened or when or if the conection was broken. Probably one of those management brainstorms that didn't pan out and cost bundles. SK hasn't had any retail presence around here for probably 10 years or better. Can't sell wrenches if nobody wants to carry them. I see chink clones, though, for about the same price as those old wrenches.

Stan

The list is on bidspotter too.

Looks like a sad case of corporate actionsleading to neglect and decine of actual business.

i

I agree. I would not be bidding on anything, I no longer buy stuff to resell on ebay and I do not need anything ATM. I recently found a good deal on a 2200 degree, 115 volts HT furnace.

i

>>

Their electrical tools are no match for Klein.