Sears announced it would file for bankruptcy earlier this month. The restructuring and bankruptcy proceeding should result in closings of many Sears and K-Mart stores.
When Sears announced its bankruptcy filing, it said that liquidation sales would begin almost immediately. So if you’re looking for deals, I’m sure they have plenty. But you should be careful on what you purchase.
Sears and K-Mart purchases come with warranties. For now, stores that ares till open, are honoring them. But that’s not guaranteed going forward. Buying appliances for example could be risky. Yes, you’ll get manufacturer’s warranty, but not Sears warranty. The Kenmore brand could probably be purchased by someone else, so that might be a safer bet. But in general, if you are looking for large purchases, where warranty is a big factor, it’s best to look elsewhere.
Then there’s the issue of gift cards. The best thing to do is use them up quickly. It’s possible that gift cards could become worthless if bankruptcy or restructuring takes effect. If you have any, head to your local stores before they close, and hopefully you can grab some clearance deals.