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Yeah, that is a real photo of him?
Actually Bozo the Clown was a big hit in the good old days.
Better than Barney.
IMO
Hey, no one wants the Julie Hackett to come back, she was nothing but a pain in the you know what.
Her brother Pat is a great guy and he is still part of the management. There are no other Hacketts who worked there.
And Norm? He was not a Hackett, he was a hired hand and a true waste of time.
I think that anyone who met Julie and Norm and really glad those two are gone. So far as I am concerned, Julie and Norm are just as bad as TS, maybe worse than TS.
IMO
No matter what, that 55" tv they have in the store is an amazing screen.
It takes money to be able to buy that sort of inventory and it is clear to me that they are doing a great job.
Why are you bashing the current management?
And you know that because you are now working at the store?
How can you possibly give such facts when we both know that only an insider could know that info?
It is a problem on many, many boards.
The mod ends up being the biggest basher or pumper.
Please indicate a link or links which prove your statements.
You wont be able to because your statements are untrue.
You are merely perpetuating an untrue rumor.
IMO
No, I mean that the Supreme Court of the United States of America has provisions in place to help struggling companies right themselves in order to continue operations.
LOL
From the attorney! Key point here.
"I believe the U.S. Trustees Office is still reviewing the filings," said David P. Antonucci, a Watertown attorney representing Hacketts in the bankruptcy. "I'm hopeful we'll be able to negotiate a resolution with them, including a date by which in the near future we'll file a plan to resolve the bankruptcy."
Mr. Becker said Hacketts expects to submit to the court a plan to emerge from bankruptcy within 45 days. Mr. Antonucci said that is a realistic expectation.
"Hopefully we can be out of this thing by summer," Mr. Becker said. "We are really working to turn this thing around, and we are so close now. This is great news."
The company is a non-reporting Pink Sheet. They no longer file with SEC.
LOL
In depth report in today's newspaper. This is NOT a PR.
Chain's CEO: papers in order
HACKETTS: Company expects to file plan to end bankruptcy
By ELIZABETH GRAHAM
TIMES STAFF WRITER
WEDNESDAY, FEBRUARY 3, 2010
OGDENSBURG — The chief operating officer of Hacketts department stores said Tuesday that the company has submitted to federal court all of the financial documents required for its Chapter 11 proceeding and expects soon to file a plan to emerge from bankruptcy.
Herbert L. Becker also said Tuesday that a motion filed last week by U.S. Trustee Diana G. Adams to convert the company's Chapter 11 bankruptcy to a Chapter 7 proceeding was based on a misunderstanding. A Chapter 11 proceeding allows the company to remain operating while it reorganizes, but in a Chapter 7 bankruptcy, the business would stop operating and its assets would be sold to satisfy creditors.
Mr. Becker said he expects the court to dismiss the trustee's motion, which was filed Jan. 26. The trustee claimed Hacketts had failed to file financial statements as requested, hindering her ability to act as trustee and delaying the case.
"There was a misunderstanding between the lawyers who handled the paperwork," Mr. Becker said. "At the store level, we've done everything we were required to do. We submit the paperwork to our attorney, who sends it to another attorney who gives it to a trustee. There was some confusion about the time we filed the paperwork, and that's all been cleared up now. There is absolutely no talk of Chapter 7."
The trustee's Chapter 7 motion had not been withdrawn Tuesday, according to federal court records. A call to the U.S. Trustee's Office in Utica was not returned. A hearing on the motion is still scheduled for March 23.
"I believe the U.S. Trustees Office is still reviewing the filings," said David P. Antonucci, a Watertown attorney representing Hacketts in the bankruptcy. "I'm hopeful we'll be able to negotiate a resolution with them, including a date by which in the near future we'll file a plan to resolve the bankruptcy."
Mr. Becker said Hacketts expects to submit to the court a plan to emerge from bankruptcy within 45 days. Mr. Antonucci said that is a realistic expectation.
"Hopefully we can be out of this thing by summer," Mr. Becker said. "We are really working to turn this thing around, and we are so close now. This is great news."
Chapter 11 is reorganization and in a reorg, you are making a lot of money because your old bills have been set aside.
DUH
LOL
“Teamwork and focus are what makes our business succeed,” said company President, Herbert Becker, “and in our case, we have a team which has really come together over recent months.” Mr. Becker was hired by Seaway Valley to take operational control over the struggling retail chain in May 2009. Over the subsequent month Mr. Becker has assembled a strong team, business plan and roadmap to recovery. Mr. Becker continued, “Much like putting together a Super Bowl team, it has taken several months for everyone to gel and come together for a common purpose.”
This is who runs the company, not Seaway, not TS.
Over 1 million shares traded, there is real support and buying going on here.
If you call the store they will tell you that the TV commercials are being filmed right now.
You need $$$$$ to pay for filming commercials and buying TV ad space. You cant use shares. No Einstein needed here, they are making money and so will we.
This company ROCKS.
Bashers beware!
OMHO
Read the PR, of course Hacketts is in HCKI.
Why to you try to perpetuate this lie?
Please show us where they are losing money?
Looks to me like they are making money. Must be if sales are so good.
IMO
This is huge!! The Hacketts stores are going to drive this stock way up. IMO
its recent January Ogdensburg sales were greater than the similar period in 2007, which represent the period prior to Seaway Valley’s (Pink Sheets:SEVA - News) acquisition of the retailer.
Sales were better than before Seaway bought them?
WOW, this is huge.
They are doing better now then when this company was run by the Hackett family.
its recent January Ogdensburg sales were greater than the similar period in 2007, which represent the period prior to Seaway Valley’s (Pink Sheets:SEVA - News) acquisition of the retailer.
Hackett's Stores, Inc. Subsidiary, Patrick Hackett Hardware Company, Flagship Store Has Best January Sales in Four Years
Ogdensburg Store's January 2010 Sales Beat Both December 2009 Sales and the Previous Four January Sales
SACKETS HARBOR, N.Y., Feb. 3, 2010 (GLOBE NEWSWIRE) -- Hackett’s Stores, Inc. (Pink Sheets:HCKI - News) announced today that its wholly owned subsidiary, Patrick Hackett Hardware Company, flagship Ogdensburg, NY store had the best monthly year-over-year sales increase since 2007. In fact, despite the recent challenges facing Patrick Hackett Hardware Company, its recent January Ogdensburg sales were greater than the similar period in 2007, which represent the period prior to Seaway Valley’s (Pink Sheets:SEVA - News) acquisition of the retailer. Additionally, progress is evidenced by January 2010 sales being even greater than those of December 2009, which is traditionally the strongest month of the calendar year due to the holiday shopping.
“Teamwork and focus are what makes our business succeed,” said company President, Herbert Becker, “and in our case, we have a team which has really come together over recent months.” Mr. Becker was hired by Seaway Valley to take operational control over the struggling retail chain in May 2009. Over the subsequent month Mr. Becker has assembled a strong team, business plan and roadmap to recovery. Mr. Becker continued, “Much like putting together a Super Bowl team, it has taken several months for everyone to gel and come together for a common purpose.”
Hackett’s Stores, Inc. is the parent company of Patrick Hackett Hardware Company and HIIO, Inc. Patrick Hackett Hardware Company has a wide variety of merchandise and business lines, including a full service hardware, consumer electronics, equipment rental, brand name clothing, footwear, sporting goods and gourmet foods. HIIO, Inc. represents a concept platform for a new specialty retailer focused on fashion clothing and outerwear, footwear and selected gift items. There are currently no HIIO-branded stores opened to date.
Seaway Valley Capital Corporation Updates on Subsidiaries' Progress in Recent Months
Debt Reduction, Dispossession of Non-Core Assets and Selective Growth Focus Across All Subsidiaries
SACKETS HARBOR, N.Y., Feb. 3, 2010 (GLOBE NEWSWIRE) -- Thomas Scozzafava, President and Chief Executive Officer of Seaway Valley Capital Corporation, (Pink Sheets:SEVA - News), which is the majority shareholder of Hackett’s Stores, Inc. (Pink Sheets:HCKI - News), Harbor Brewing Company, Inc. (Pink Sheets:HBWO - News), Alteri Bakery, Inc., and Seaway Realty Holdings, LLC issued the following update to its shareholders today:
Seaway Valley Capital Corporation (“Seaway Valley”) and its subsidiaries have seen significant realignment, debt reduction, and in most cases, operating stability over the past several months. The first factor that has impacted Seaway Valley and its subsidiaries has been the general stabilization and now improvement of the economy. While we have not seen and may not see for quite some time the robust consumer spending that was common from 2003 through 2007, there are many positive signs that the consumer is coming back out to shop, dine and generally enjoy life as the fear of economic “doom and gloom” portrayed by the media as imminent has subsided. Additionally, this relatively calm and stable operating environment has allowed management to focus internally on expense and debt reduction, and as the economy continues to recover our businesses will be better positioned to profit from increased revenues.
Growth in 2010 and beyond will be pursued selectively and with great discretion. In late 2009, Seaway Valley and certain of its subsidiaries received equity financing commitments of over $25 million. We are continuing to evaluate and negotiate these investment offers, which would include up-listings to the American Stock Exchange or the Over-The-Counter Bulletin Board for Seaway Valley and each of its publicly-traded subsidiaries. Proceeds from any such equity raises would be used for convertible debt reduction at Seaway Valley and bank debt reduction and growth capital at its subsidiaries.
This company, SEVA owns the majority of HCKI which in turn owns 100% of Patrick Hackett Hardware Co. Inc.
Patrick Hackett is currently working to come out of chapter 11.
I think that when it comes out of chapter 11, you will see this stock take off.
IMO
Let me get this right, you are saying, as a fact, that I bought my shares from TS? You don't know what you are talking about.
There is no chance on this earth that TS or any officer is selling sells to me or you or anyone.
IMHO
You need to wake up and smell the coffee.
You really dont know how this public market place works, do you?
When I sell stock, I get the money, not TS. Not the company. I get the money.
The guy who buys my stock does not give money to TS or the company.
If you truly believe that the company or TS gets money everytime a share trades hands, I strongly suggest you get out of the stock market.
LOL
In this country, people are innocent until proven guilty and I have never seen any such proof.
God Bless America
LOL
Yes it is, so glad you figured that out.
He is talking about HCKI going to .12
LOL
Thanks dav, good job.
I agree, I can see this easily moving to .12 before the end of March with a solid build.
The bashers and those who are short term might take us for a ride but the longs will win out in the end.
Once the retail emerges from BK, our stock can easily grow to .25 after that.
This is a solid company.
Just wait for the commercials on TV during Super Bowl!
IMO
There is no question at all, Patrick Hackett Hardware is owned by HCKI. It was never traded out of HCKI.
It is clearly stated in every PR and in the BK filings.
SACKETS HARBOR, N.Y., Feb. 2, 2010 (GLOBE NEWSWIRE) -- Hackett's Stores, Inc. (Pink Sheets:HCKI) announced today that its wholly owned subsidiary, Patrick Hackett Hardware Company, has filed all the required schedules in its Chapter 11 case.
Herbert Becker, President of Patrick Hackett Hardware Company, stated, "While most of the required schedules were filed last week, we did complete the filings this week. Unfortunately we have had a key member of management dealing with some health issues, and that put us back a bit. However, we're on course now to comply with any and all court requests on a timely basis going forward." Mr. Becker continued, "Additionally, we are already working on and feel that in 30 to 45 days we can present the court with a plan for Patrick Hackett Hardware Company to emerge from Chapter 11. We are encouraged by the feedback from our key creditors regarding their desire to help put Patrick Hackett Hardware Company on the road to recovery."
Thomas Scozzafava, President of Hackett's Stores, Inc. stated, "Additionally, there seems to be confusion in the marketplace between the parent company, Hackett's Stores, Inc., and its subsidiary, Patrick Hackett Hardware Company. Hackett's Stores, Inc., whose shares trade currently on the Pink Sheets, is not nor has ever been in bankruptcy or bankruptcy protection." Mr. Scozzafava continued, "Furthermore, nothing prevents Hackett's Stores, Inc. from investing in or forming other new retail ventures. Having said that, the vast majority of senior management's time and effort is focused on the successful emergence of Patrick Hackett Hardware Company from Chapter 11."
Hackett's Stores, Inc. is the parent company of Patrick Hackett Hardware Company and HIIO, Inc. Patrick Hackett Hardware Company has a wide variety of merchandise and business lines, including a full service hardware, consumer electronics, equipment rental, brand name clothing, footwear, sporting goods and gourmet foods. HIIO, Inc. represents a concept platform for a new specialty retailer focused on fashion clothing and outerwear, footwear and selected gift items. There are currently no HIIO-branded stores opened to date.
You seemed to have forgotten to add the rest of this article, here is the key point.
Thomas W. Scozzafava, Hacketts chief executive officer, said the missing paperwork was filed Tuesday and Wednesday and that he expects, with that remedy, the motion will be withdrawn at some point.
Court filings support Mr. Scozzafava's claim, as several of the documents cited as missing by the trustee were filed either Tuesday or Wednesday.
Hackett's Stores, Inc. Subsidiary Looking to Emerge From Chapter 11 Protection Soon
Hacketts Stores Inc New
HCKI | 1/28/2010 7:45:43 AM
Retailer Continues to Bring on New Vendors --- Achieves Year Over Year Sales Growth for January
SACKETS HARBOR, N.Y., Jan 28, 2010 (GlobeNewswire via COMTEX News Network) --
Hackett's Stores, Inc. (Pink Sheets:HCKI) is pleased to announce that subsidiary Patrick Hackett Hardware Company continues to stabilize, and recently has seen an increase in vendors and growth in sales and cash flows.
Herbert Becker, President of Patrick Hackett Hardware Company, stated, "We have made great progress over the past few months in regard to reestablishing ourselves and remerchandising our stores. During this period vendor confidence in our operations has increased dramatically, and we have seen the return of key vendors as Columbia, Lee Jeans, Woolrich and Adidas, among others. We also expanded our merchandise offerings through the addition vendors such as Hasbro, Panasonic, Samsung, and Point Zero."
Mr. Becker continued, "Of course, there's no cookie-cutter approach to a businesses emerging from Chapter 11, but over the past several months we have cut costs, realigned stores, improved our merchandising and marketing and added new vendors. We have strengthened our buying department and made changes to store-level management." Mr. Becker added, "These efforts seem to be paying off as Hackett's is enjoying the best January it has in three years in terms of sales. With these changes in place, we are now ready to focus on becoming a fiscally strong retail department store in upstate New York, which should hopefully position Patrick Hackett Hardware Company for emergence from Chapter 11."
Herbert Becker, President of Patrick Hackett Hardware Company, can be reached for questions or comments at hbecker@hackettsonline.com.
Patrick Hackett Hardware Company has a wide variety of merchandise and business lines, including a full service paint department, consumer electronics, equipment rental, brand name clothing, footwear, sporting goods and gourmet foods. Hackett's Stores, Inc. is majority owned by Seaway Valley Capital Corporation (Pink Sheets:SEVA).
Safe Harbor Statement
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Hackett's Stores, Inc.
CONTACT: Hackett's Stores, Inc. Herbert Becker 315-393-6101 hbecker@hackettsonline.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
I called them and asked them.
Ibox is slowly getting updated, if you have any input you would like to see there, please let me know.
Give me the post numbers to the personal attacks so I can review them for removal.
The stock looks like it is trying to regain some of today's loss.
Slowly inching up.
IMO
Anyone have L2 they can post before the opening bell?
All rental agreements and back rents get erased at time of filing a chapter 11 so this is moot.
I have never seen proof of this and in this case, you are dead wrong.
It is a sub of HCKI which is in chapter 11, not HCKI. HCKI is not in chapter 11.
There are many subs in HCKI and Patrick Hackett Hardware is only one of them. No matter what happens to the Hacketts retail chain, the parent company HCKI has no change in status, share structure, etc.
IMO
I dont agree with that, either.
The company is selling merchandise which comes from many of the vendors who are owed money and who are part of the creditors. That tells me that they will want to see Hacketts emerge and for at least two reasons.
1. They will emerge with a deal to pay them pennies on the dollar so the creditors will get something.
2. They will be able to continue selling to Hacketts because that is what the creditors do, they sell to retailers.
No matter how much you want to paint this, clearly, Hacketts is doing well and the emerging from chapter 11 will only mean better times ahead.
IMHO