Retail Giants Struggle to Survive

Retail Giants Struggle to Survive

Bankrupt

Riverside

The Sears Holding Corporation, the parent company of what were once two of the nation’s most frequented stores, Sears and Kmart has filed for bankruptcy protection. On Monday, the corporation announced plans to close 142 of its worst performing stores across the country.

On the list here in the inland region are two Kmart stores, one located in Riverside at 37 E. Alessandro Boulevard and the other in Ontario at 2530 E. Euclid Avenue. The current closures come on the heels of the hundreds of other Sears and Kmart stores closed earlier this year. In addition, there may be more to come as the company struggles its way through the bankruptcy process. After this round of closures less than 600 Sears and Kmart stores will remain nationwide.

Liquidation sales at the stores closing this round are expected to begin sometime in the next couple of weeks. For customers with Sears products, the company said it is currently honoring warranties, protection agreements and guarantees as normal.

Sears plans to continue honoring its warranties, protection agreements and guarantees as normal including for its Kenmore brand which the company still owns but may be sold at some point in the future as part of its bankruptcy proceeding. 

Sears has already divested itself of its popular Craftsman tools product line. In January 2017, the line was sold to Stanley Black and Decker (SB&D) for $775 million. 

SB&D has a chart on its website http://www.craftsman.com/customer-care/warranty-information, with a complete list of the various product warranties on both hand tools and mechanic’s tools. Those who own these products can also call (888) 331-4569 for additional information.

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