Sears Resolves Spat With Power Tool Vendor
Sears has resolved its dispute with One World Technologies, the maker of Craftsman tools. After blogging last month that the department store retailer threatened to sue One World, CEO Eddie Lampert recently updated the post with a note explaining the matter had been resolved. According to CNBC, Sears has been working with suppliers to try and ensure its level of credit risk is "both affordable and appropriate." After a few tough quarters, Sears reported in March that there was "substantial doubt" about its ability to "continue as a going concern."
Total Retail's Take: A bit of good news for Sears, however, it's still surrounded by rumors of bankruptcy as the retail chain continues to navigate a very bumpy 2017. In May, Lampert's original post stated that Sears will do "what's right to protect the interests of our company." Hopefully the repaired relationship with one of its top product suppliers, Craftsman tools, will help create an increase in sales — or, at the very least, less speculation of imminent bankruptcy.