As I interpret what he's saying, he did not reaffirm the debt and he knows that as a consequence of that choice the tools subject to that debt can be repossessed. The question is thus whether other tools from the same manufacturer can be repossessed. If this is a commercial bankruptcy, as was previously indicated, that likely turns on contract issues and the UCC filing. If it's a consumer PMSI (purchase money security interest), that can also depend upon the contract (e.g., were these separate purchases, or multiple purchases on one account), but it's less likely that tools from a separate transaction would be subject to the security interest.
If tools have been stolen, the vendor can subrogate the bankrupt buyer's insurance claim. It would be a good idea for the bankrupt buyer to make a police report documenting the theft.

