These stores will close by the end of the year, giving them the chance to tap into the holiday shopping season on their way out.
While holiday sales are a good time to clear out inventory, at least one analyst says that some customers might be turned off by the uncertainty around the retailer's warranties. See Gallery. He continued: "Many consumers will now be nervous about buying bigger ticket items from the retailer for fear that it may not be around to back guarantees or fix problems come the new year. Sears has long been known as one of the leading appliances sellers in the United States, and many of those products are sold with warranties.
We will fulfill our commitment to our customers and members. A spokesperson for the company did not immediately respond to Business Insider's request for comment on what will happen with its warranties now that it has filed for bankruptcy.
She said gift cards and rewards points earned through Sears' Shop Your Way loyalty program could also be erased with the bankruptcy. As Sears has now filed for Chapter 11 bankruptcy protection, the fate of its warranties and rewards points will be decided in court. Sears has a lot of creditors to pay, so honoring outstanding warranties and loyalty points might become a lower priority.
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Sign up for Finance Report by AOL and get everything from breaking finance news to money-saving tricks delivered directly to your inbox daily! You not only shop for items you need, but you also try to find the best possible savings. Whether you need a new refrigerator for your kitchen or the trendiest clothing in your closet, it's important to find the deals that can't be beat.
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Skip Navigation Sears home. This article originally appeared on GOBankingRates. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Most products are eligible for refund or exchange within 30 days of purchase, as long as items are in unused condition with all parts and packaging. The kitchen is the central gathering point for families and friends. When preparing your meals, the right range or stove can make the world of difference.
Deals on clearance apparel allow you to find the best clothes at discounted prices. President Donald Trump told reporters on Monday. He has so far not disclosed whether he has turned a profit or loss since he invested in Sears following years of complex financial engineering at the company.
Mohsin Meghji, a managing director of the M-III Partners corporate advisory firm, was appointed chief restructuring officer. Sears had earlier announced the separate closing of 46 unprofitable stores, and said Monday that is expected to be completed next month.
Shareholders generally lose all or most of their investment when a company files for bankruptcy, and the ability of Sears to escape liquidation will depend on the willingness of creditors and suppliers to keep the company afloat. Strong sales in the upcoming holiday season will be key in determining that. The largest U.