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For the Home Talk

Oreck Bankrupt!

Started 1368036793.093 in For the Home Talk | Last reply 1375470799.287 by TheDave

{#emotions_dlg.scared}

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MomOf41368036867.193854 PostsRegistered 1/27/2012So. California

Wow, really??



Friends are the bacon bits in the salad of life!!

Go Denver Broncos!!

nantucket ­shore1368037092.9575636 PostsRegistered 10/14/2007

Company is for sale and has over 30 million in liabilities.

That's just crazy, I personally would be embarrassed.

Dishy1368038032.67837 PostsRegistered 1/4/2009

nantucket - After reading a few articles, it is very sad indeed. They were trying to put together a deal but it fell through and now, they have zero cash flow.

mzlg1368038215.543800 PostsRegistered 6/25/2006

Oreck Corp. had filed for Chapter 11 bankruptcy protection on Tues. 5/7. This will allow the corporation to consolidate its assets and restructure its finances in an effort to sell the business. What is really unfortunate for this 50+yo business, is that in March the former CEO Doug Cahill tried to buy the ailing company several times, but the corporation / mgmt company wouldn't sale. How sad for the Oreck family, when the dad, David, had created and built this corportation from the ground, up only to have it fail.

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~!~

sidsmom1368038756.2035448 PostsRegistered 8/11/2007Dallas!
My first gut reaction to why it's downturning.....did they produce a product that was too GOOD? But one that lasts forever & there's no incentive to purchase another one. Sad how we're in that mindset these days. Too much competition with cheaper, less reliable products....just look at the TSV's over the last couple months. They'll be in a landfill in a couple years.

Golfing Na­ncy1368041505.97187 PostsRegistered 5/2/2011San Diego
Sidsmom: Amen. Sad observation on our society.

VCamp27481368041803.7177002 PostsRegistered 4/20/2006

Yikes, too bad! I was wondering why QVC had been shoving those pricey Dysons down our throats so much the last few months. I still have a basic Oreck (no attachments) so I guess i'd better try to stock up on some belts & bags while they're still around. There's an Oreck authorized dealer not far from where I live - I wonder if they're still open? I'll have to check the next time I'm over that way.

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webappq11368043335.671587 PostsRegistered 11/12/2012

are you sure? anybody else?

FunkySmily

Krimpette1368044381.5510005 PostsRegistered 9/7/2007MidAtlantic

I saw another thread earlier today about Oreck filing under Chapter 11. Not sure if that thread is still active.

Silver Lin­ing1368044789.0133619 PostsRegistered 4/15/2010

That's sad for the family. I used to buy my bags at an authorized Oreck dealer here, but it closed several years ago, so you have to order from the website. My Oreck is in the broom closet now. It's just too much of a hassle to use now. I have a Kenmore bagless now.

kachina6241368045489.07715870 PostsRegistered 10/6/2004New Mexico
I don't like their products and would not buy their vacuum but I'm sorry to hear about an American manufacturer going belly up.

Q2girl1368046090.531621 PostsRegistered 1/3/2012
The problem with Oreck was the design of the vacuum. For many years you had to have a separate hand vacuum. The bags never really worked. They couldn't keep up with Dyson. I loved my Oreck until Dyson came out.

imxpnsive1368046283.611028 PostsRegistered 6/5/2010

This is sad, a I love my Oreck, bought in 2004 at a local dealer......

AuntG1368055466.9976233 PostsRegistered 1/31/2009Wisconsin

The article I read, made it sound like everything went downhill fast for them. I just hope I can continue to get bags for my Oreck.

stevieb1368055650.78329020 PostsRegistered 11/4/2007

Guess that means twice as many Dyson shows...

VaBelle351368055745.649498 PostsRegistered 11/19/2004VA suburbs of Washington, DC

Not having read anything about this, I suspect like most family owned businesses, when the economy turned in 2008, Oreck did not make adjustments internally. Because they consider their employees family, they keep paying them, giving raises and bonuses and continuing benefits same as always. The lack of sales caught up with them and they could not continue to maintain the business at the level they had been when not enough money was coming in.

It's very sad. It's a very nice thing to do for your employees in the short term, but it doesn't help your employees in the long term.

QVC Shopper since 1993

imxpnsive1368058342.211028 PostsRegistered 6/5/2010
On 5/8/2013 stevieb said:

Guess that means twice as many Dyson shows...

Ugh......guess when my Oreck dies I'll be on my hands and knees with my Don Aslett micro-fiber cloths.....works for me......

Retired081368058561.7275311 PostsRegistered 2/2/2008 Beautiful Coastal Georgia

How sad. Another American owned business down the drain.

What you put into the lives of others comes back into your own.

annabellet­hecat1368058699.71314104 PostsRegistered 9/23/2006

That is sad. I like it better when we have more to choose from. I have bought many Dysons for me and my daughters. However, I know there are a lot of people who like Oreck.

I think it is probably a case of where they made too good of a product. Here's what I was told when I was complaining about products not being made to last like they used to (end a sentence with a preposition)......

Nothing is made to last anymore. Manufacturers figured out that they were improving themselves right out of business so they started making junky stuff. Perhaps Oreck just made too good of a product so people didn't need to buy them as often. I think that makes sense. I remember that whenever I traveled I saw vacuums being used in hotels/motels that looked like Oreck (or some version thereof). They wouldn't be using junk stuff.

blueskies1368058812.8237060 PostsRegistered 10/6/2004
With the failure of each American company , America dies a litle more too . There is nothing replacing manufacturing here to create jobs . Politics & greed getting in the way of progress once again. Two-class system in place now ; just look around .




stevieb1368062108.16729020 PostsRegistered 11/4/2007
On 5/8/2013 blueskies said: With the failure of each American company , America dies a litle more too . There is nothing replacing manufacturing here to create jobs . Politics & greed getting in the way of progress once again. Two-class system in place now ; just look around .

Very sad and very true...

And yes, we're increasingly a two class society with what little that's left of the middle class being squeezed by both sides and certainly by the government...

I'm sorry to see another company fold and on the more short-sighed and selfish side I also wonder about replacement parts for those with Oreck products.

ibb381368070364.40712252 PostsRegistered 10/6/2004

It was also posted on the Q News board.... bummer!!!

I bought my Orecks at their store because the vacuums were more powerful units than the Q models - only a little more expensive- and they included all kinds of bonuses such as numerous years of maintenance visits! I visited a few stores before making my purchases, they never seemed busy... I hope this is jsut a reorganization and my maintenance visits won't be obsolete.

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croemer1368140945.21774626 PostsRegistered 1/29/2009

I think the problem is they stuck with vacuums that had a bad which was hard to attach. I kept wishing they would come out with a good bag less vacuum.

"Well Bless Your Pea Pickin' Heart."

Lyn081368142000.422186 PostsRegistered 7/30/2008

I've been looking at new carpeting for my living room and dining room. Many vacuum cleaners do not work with the new "soft" carpeting. I know this for a fact, as I have an Electrolux Aerus vacuum cleaner that works just fine on the carpets I have now, but I can't push my vacuum cleaner on many of the "soft" carpet samples I bought home to test.

When I did some research, the carpet companies (Shaw and Mohawk, for example) that make these new "soft" carpets recommend certain vacuum cleaners, one of which is the Oreck Magnesium. Since I don't want to purchase a new vacuum cleaner (mine is only 3 years old and works just fine on regular carpets), I'm looking at other types of carpeting.

I have a hand-held Oreck vacuum cleaner, that works just fine. I bought it from a local Oreck dealer. When I stopped by the Oreck store a couple weeks ago to check out the Oreck Magnesium, I was the only one in the store, other than the salesman. I really hate to see a USA company go out of business, and I hope that Oreck will be able to continue in business as they reorganize.

homedecor11368500029.0472646 PostsRegistered 6/20/2005

So sad to hear this. I guess I won't be waiting for a tsv anytime soon from Oreck - now it makes sense Dyson has taken over!

I wonder if I should even consider buying from a regular store at this point.

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