Service Mechandise b&m going out of business.....

[locutus4]

people just listen, there are NO DEALS YET. And probaly wont have any for a while, TRUST ME I WORK THERE

 

[hunt3r]

Thanks locutus4... keep us in the loop as the saga continues. : )

 

[locutus4]

Hey i did notice today all the digital cameras, maybe the rest too, are being clearanced already. This started before the whole GOB thing, most expensive ones are about $100 off now.

 

[Kwad Guy]

As others have noted: If you see the word liquidators associated
with a going out of business sale, you might as well forget about
it. What that means is that the entire sale has been carefully
orchestrated to maximize profits for the liquidators. NOTHING will
be sold for less that the most that the liquidators think they can
get for it, either at its current location or elsewhere.

Usually, liquidators buy out the original owners. That means that
Service Merchandise will have NOTHING to do with this sale. If
SM was holding the sale on their own behalf, there'd be the element
of urgency to the sale, sales would be more important than
maximizing profits on all sales, and there'd the chance for genuine bargains. The liquidators are not in a particular hurry and want to maximize profits.

I haven't seen a major bankruptcy sale in years that wasn't run
by liquidators, unfortunately.

Kwad

 

[wojak]

I went to one of the store few days ago to get my band adjusted on my watch.
There ware NO DEEALS at all. NO SALES.
Just big liquidation sale banners and "All sales are final" and "no returns" posted everywhere.
Most items had their regular prices.
They had better prices during heir regular weekend sales.

Might need to weight few more weeks (depending on when they plan on closing the doors)

 

[locutus4]

just on a side note, anyone who buys jewlrey After Christmas is getting royally screwed. For about 2 months before christmas EVERYTHING in jewlrey is on sale, and for about 2 months after NOTHING is. I meen i see people wasting 1,000s of dollars, if they only came about 3 weeks ago. I would never buy any jewlrey if it wasnt on sale, markup is soo high.

 

[ricerx]

the one in san bruno ca. closed about a year ago.

 

[DaveNCheez]

"75% off Storewide, look for green tags!"

what a crock, I only found like 2 green tags in the entire store, everything else was actually HIGHER than at christmas time.

Ex: Pizzaz Pizza oven, was $50 at christmas (I bought one) not is $80

wt?

I was looking to buy an engagement ring to put away.. hey if its the right price, Ill hold on to it a few years, but screw that

Dave

 

[jamesd1343]

anyone know what happens to the extended warranty on jewelry purchasd before christmas? I added it to a tennis bracelet I bought for my wife but now I want to go back and cancel it...

 

[locutus4]

HEY just to let you know liquidations have started! ALL watches %20 off!! All other jewlrey at Least %20 off LOWEST ticketed price!!!! stuff on the floor is at least %10 off!

 

[Aztech]

Yep yep. I notice the "Going out of Business Sale" sign on the one here in Slidell, Louisiana this weekend. I went in and took a look around. Everything is at least 10% off for now. Jewelry is 20 - 50% off. Some other departments were 20% off.

Some SM stores around here closed within the past few years. Others, remodeled, and I think all of them got rid of the electronics section. They had big clearance prices on the electronics at that time, but I got there too late! Once the electronics was gone, I never set foot in there. It became a women's store, basically. I guess competition was too much. It seemed like a good idea at the time.

The only electronics they have now would be small kitchen appliances and also cameras (digital and 35mm etc...).

Well, I'll be checkin' up on them several times per week to jump on deeper discounts. It's a balancing act because you wait too long and it's all gone!

Good luck!

BTW, CurlyNOodle, That was a good one about the Website!

 

[catnap1972]

<< I agree. These professional liquidations are nothing but a scam. These firms are exprerts at marketing and product pricing. They go into a store and inventory all the items, mark them back up to full retail and remove anything that can be sold at full retail at one of their other "liquidation sales". Once they have determined the local market, they start their % off sell with a discount of between 10% to 25 % and over a period of months, they increase the % to around 75% before they actually close shop and sell the few remaining items to a surplus dealer. >>



Those "nothing held back" banners they often flaunt are a huge load of crap...anything decent is long since removed (if it hasn't sold)before they'd ever lose money on it. I'll almost guarantee that the cameras and electronic backstock will be cleaned out in short order, leaving only the trashed display models or the defective items they've stored in the back for the past 3 years...that's the way it almost ALWAYS works.

 

[GinmyShell]

I was in there today, saw all those banners mentioned above...

They had nothing there, it was just there usual assortment of overpriced junk.

Jewelry 20% off
Mostly everything else was 10%, ooooh 2 dollars off a toothbrush set...

With a 10% discount, SMs prices are almost as comparable to everywhere else....

Waste of time...

 

[aphex]

20% off jewelry could be HOT... $200 off a $1000 diamond

 

[pinoy]

I must agree with GinmyShell.

TOTAL WASTE OF TIME!!!

 

[BigDoggie]

Don't expect any "75% off" deals... not on anything worth having and not yet.

The liquidators usually have 10% off for the first couple of weeks... then very gradually increase the discount. Plus, they sell stuff out the back door to other merchants. What is left for the customers is the stuff that no one wanted.

BY the time they get to 50%, the store will be 90% stripped, and what is left is garbage. It is worth a turn through just to see what is there. If you see anything worth having, hide it well and come back for it in the last days when discounts are 75% - 90%.

 

[flomokev]

I am saving my nickels and dimes for the upcoming Big K going out of business sale. Brokage houses rate Kmart stock as a sell, MSN runs a story yesterday that folks "Dis" the chain over the holidays, and today the CEO got the boot.

The MSN story was right on several point. The typical Kmart carries junk that folks don't want and the employees are a joke.

Worse then I heard or read!

 

[darth_beavis]

What? They had employees? I've walked around these stores and not seen a single one except maybe 2 cashiers with 50 people in line.

And their stuff is definately K-rap.

This whole thread makes my colon bleed.



<< I am saving my nickels and dimes for the upcoming Big K going out of business sale. Brokage houses rate Kmart stock as a sell, MSN runs a story yesterday that folks "Dis" the chain over the holidays, and today the CEO got the boot.

The MSN story was right on several point. The typical Kmart carries junk that folks don't want and the employees are a joke.

Worse then I heard or read! >>

 

[peterframpton69]

I would recommend that everyone get to Service M asap. I went yesterday and it was great. It was like going back to 1978. The store looked the same way as I remember as a kid. Lawn and garden stuff on the tile floor at the rear of the store...I loved it.

Even the store mgr looked like he fell out of the Sgt Pepper Movie.

 

[dman]

We went on Friday and then again last night. The prices were pathetic, yet, the people there were lined up to grab what they thought were bargains. On friday, when we first went, it wasn't so bad--not to crowded and people just browsing. Last night, however, they only had one cashier working and the line was like 20 people long, all with carts full of still-overpriced stuff.

Seriously, for 10-20% (mostly 10%) off the mostly regular priced merchandise you were NOT getting a bargain. 10% off is normally the sale price for items at SMC which you can, even then, usually find cheaper elsewhere... and now you can't return it if it's broken or you realize you got screwed. We only went back on Monday because we were hoping that the % off would have increased above 10%. It hadn't.

Worse, the liquidators are apparently so tight with the money that they didn't have any A/C running in the store. It was freaking hot in there.

Well, good riddance for a chain that long outlived it's niche. Hopefully they put some good stores in their place.

 

[jaykay]

My local store in Michigan doesn't have anything marked down beyond 10%

 

[Justincase]

>>>Brokage houses rate Kmart stock as a sell, MSN runs a story yesterday that folks "Dis" the chain over the holidays, and today the CEO got the boot.<<<

And today Kmart filed for Chapter 11 bankruptcy; probably not a good sign :Q


>>>The MSN story was right on several point. The typical Kmart carries junk that folks don't want and the employees are a joke.<<<

The typical Kmart in my area looks worse than a flea market and more like a junkyard, with many areas where things are just thrown around. Who wants to shop in an environment like that.

 

[dman]

KMarts around here are setup rather nicely (most have been renovated). Merchandise is hit-or-miss, but mostly--you get what you pay for in quality--and some of it is good.

Back to the topic: Went to Service Merchandise again last night, right next to a Target so I can check for deals @ both. I will NOT be returning to SM liquidation again (which hopefully they won't be around much longer anyway). They had a set of pots and pans we bought for $107-10% (14piece set) during the first week of liquidation (pretty much an average price for the set we got). When I went back, the markdown's were 20% but the sticker on the pots/pans boxes now was printed out at $119.9x. All I have to say is Let the buyer BEWARE.

 

[Mustanggt]

I thought they allready had the going out of business sale a year ago, there still there.

 

[bsRaven23]

I used to work at Service Merchandise at Sawgrass Mall (Sunrisse, FL), and I've been waiting for them to go out of business. Not that I didn't like the people there or anything, but the store sucked. Its about time they closed. At store closeouts, they'll get down to 75% or more off everything left, but there wont be much left then, unless you can hide something (or know someone who works there that can). Best of luck to everyone trying to get anything, and good luck to all the new unemployed persons from SM.