Tags: sears | supplier | issues | retailer

Sears Supplier Issues Compound Retailer's Woes

Image: Sears Supplier Issues Compound Retailer's Woes
(Lester69/Dreamstime.com)

By    |   Wednesday, 17 May 2017 10:46 AM

Sears’ supplier issues are causing more problems for the retailer after recent sales struggles have led to many store closures over the past several months.

Sears is said to be having inventory problems, after suppliers have lost faith in Sears’ ability to take care of its bills, which has caused suppliers to pull back on its shipments, according to the Business Insider.

This has made circumstances even worse for Sears.

One World Technologies, one of Sears’ main suppliers, has threatened to forgo its contract with Sears and stop making shipments to its stores unless the company starts scaling back on its orders, Business Insider reported.

Sears is firing back, though, claiming in a lawsuit that the supplier is just leveraging rumors and that it has been paying its suppliers on time.

This comes just days after Sears CEO Eddie Lampert told the Chicago Tribune that some of the company's suppliers have been clouded by reports about the company's struggles.

"(T)here are a lot of articles that are speculating, and there are elements of truth, but they're certainly designed to scare people," Lampert said, according to the Tribune.

Lampert complained that vendors were treating the company "like a pariah."

"What I would tell you is if you found out your next-door neighbor lost his job and had their house for sale and was falling on hard times, and they ask you to borrow $10, how many questions would you ask them about their ability to repay you?" Lampert told the Tribune.

"If they ask for $50,000, that would be very different. We’ve reduced risk by eliminating a lot of our pension liability, reducing the size of our bank facility, we reduced the risk by closing stores and reducing the size of the company," he added.

"We’re fighting like hell to change the way people do business with us. And my view is, we’re the customer. If you’re a vendor, and want to do business with us, then you have to treat us like a customer, you don’t treat us like a pariah," Lampert said.

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
TheWire
Sears’ supplier issues are causing more problems for the retailer after recent sales struggles have led to many store closures over the past several months.
sears, supplier, issues, retailer
344
2017-46-17
Wednesday, 17 May 2017 10:46 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved