Coleman Powermate Auction

[moronthethrottle]

Has anyone else in the midwest been to one of these auctions, or has anyone else received a flyer for one yet? They have tons of stuff listed: air compressors, welders, tools benchtop lathes, generators, chainsaws, portapowers, pretty much everything tool or shop related. This auction will be held at our county fairgrounds (Osceola, Iowa) on Sunday, May 3.

The notice on the front of the flyer states: "By creditors demand we are trying to avoid bankruptcy. 10 million must be disposed of in 60 days!" Now, the weird part is that the back states: "Coleman Powermate has gone bankrupt and we have over $5,000,000 of their bankrupt inventory. Check day of Sale for generators, air compressors & pressure washers available for sale."

Huh? Which is it, bankrupt, or avoiding bankruptcy, or did Coleman Powermate go bankrupt, some other company bought their inventory and is now in trouble and must sell it all to avoid their own bankruptcy?

I'm just trying to figure this thing out and am wondering if anyone else knows of similar auctions in their area that they might be looking to score some cheap tools from.

 

[sc5080]

On March 17, 2008 Coleman Powermate, Inc. filed a voluntary petition for liquidation under Chapter 11 in the US Bankruptcy Court for the District of Delaware. - found this on the web.

 

[Willowbilly3]

Ah, yes, the semi annual going out of business sale. Actually I haven't heard but I would not bring home another Coleman generator, they are pure junk and will shake to pieces within about 10 hours of use.

 

[moronthethrottle]

Ah, yes, the semi annual going out of business sale.

Hmmm, maybe my suspicions were correct. I will most likely not go to the auction, although I could use a body hammer & dolly. No intentions of buying a generator!

I wonder if the equipment is similar to the crap they offer up at the big travelling tools sales? Bought some cheap Makita sawzall blades at one of those. I would have been better off using an electric meat/bread knife.

 

[cycledog]

Ah, yes, the semi annual going out of business sale. Actually I haven't heard but I would not bring home another Coleman generator, they are pure junk and will shake to pieces within about 10 hours of use.

Wow, I have a 5000 watt Coleman that I bought about 20 years ago at Costco and have used it almost every winter since. Not one single problem. Even used it to power my shop before I got the electrical in...sorry you've had bad luck.

 

[Sam_Fear]

Wow, I have a 5000 watt Coleman that I bought about 20 years ago at Costco and have used it almost every winter since. Not one single problem. Even used it to power my shop before I got the electrical in...sorry you've had bad luck.

Kinda wonder if they've gotten cheap in the last few years.

 

[Willowbilly3]

When I met my last ex she didn't have power and was running a 5000 Coleman. It was sceaming so loud she couldn't he someone knocking. Mostly ran the gen about 4 hours a day to run the well. She had several of them that had just self disintegrated over the course of the winter.