It’s official, SK Hand Tools has declared bankruptcy. Rumor of the bankruptcy was relayed by a GarageJournal forum member, and then confirmed by another after receiving an email from an SK distributor.
It is also rumored that Ideal Industrials, who recently acquired Pratt-Read and Western Forge, is interested in buying up the company. We have our fingers crossed. If Ideal does purchase SK Hand Tools, we are hoping that they keep the company’s USA-made tradition alive as they’ve done with their other acquisitions.
Sources: Jori and mepilotunot from GJ, and the bankruptcy filing has also been noted elsewhere.
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SK has been through quite a few rough patches for some time now, including a 2+ month labor strike last fall. There has been speculation of an inevitable banruptcy here and there, but it’s a shame to see this finally realized. Hopefully the company will be purchased and everyone gets to keep their jobs.
IndyEngineer
I really hope that SK is able to continue making tools in the USA. I’m a big fan of their tools and owning “Made in USA” tools are already beginning to feel like a luxury. I hate to see another American company go under.
uthscsaedu
I’m surprised there aren’t more comments about this.
I guess IDEAL is becoming a major player now.
Doc
SK Hand Tool’s new owner commits to U.S.-made product lineup
https://www.partsandpeople.com/node/5951
Stuart
Great article, thanks for sharing!
I had to remove the copy-pasted article from your comment, not because I didn’t like the article, but because copying whole articles verbatim is frowned upon as copyright infringement.