Many reports have circulated around Sears and Kmart going out of business. The brands filed for bankruptcy last year, and now a last-minute lifeline may be able to save many of the stores that are left open. Sear’s chairman Edward S. Lampert made a $5.3 billion bid at a bankruptcy auction in hopes of saving the stores for now.
Sears and Kmart brands are both over 100 years old. However, with new stores like Costco and online competition like Amazon, both stores have been failing in recent decades. If you still love shopping at Sears and/or Kmart, there is some good news. If the deal is approved, about 425 Sears locations will remain open.
Use Your Gift Cards Now, Just In Case
Even with hopes that many stores will stay open, if you have a gift card to Sears or Kmart, you may want to use it as soon as possible. Some stores may still end up closing and you don’t want to miss out on using a gift card. If Sears and Kmart completely go out of business, you could lose your chance to use that old gift card.
Check On Sales And Warranties
There will likely be some big sales coming up. You may see big sales in the spring on tools and appliances in particular. Keep your eye out for locations in your area that may still be closing to find the best deals.
If you own a Kenmore appliance from Sears, you can breathe easy for now. If Sears stays in business, for now, the Kenmore warranties on appliances will be safe. However, if Sears liquidates without anyone taking over, the warranties may become invalid.
Find Out How Sear’s Company Lands’ End Is Doing
For now, Lands’ End, the clothing company that was started by Sears, is safe. Sears made Lands’ End a separate company in 2014 to help their financial situation. Right now, Lands’ End is doing well which is helping Sears stay in business too.
What do you think about all of the financial troubles for stores like Sears, Kmart, and Toy ‘R’ Us? Do you still love shopping at Sears and Kmart or have you moved on to other retailers? If you found this article informative, please SHARE with your friends and family who still love shopping at Sears or Kmart! Let them know the updates.
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