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+-- Thread: Sears sells Craftsman brand to Black & Decker (/showthread.php?tid=7326750)
Sears sells Craftsman brand to Black & Decker - Cooler - 01-06-2017
This from Chair Store Age:
Sears Holdings Corp. is seeking to stop its bleeding and raise more cash by closing another 104 stores and selling its iconic Craftsman tools brand.
The struggling retailer said it has reached an agreement to sell Craftsman to Stanley Black & Decker for a net present value of about $900 million, including future royalty payments. Sears, which will continue to sell Craftsman products, had put the brand, along with its Kenmore and DieHard brands, up for sale several months ago.
Sears also said it planned to close 104 stores, including 78 Kmart stores and 26 Sears stores, during the next few months.
RE: Sears sells Craftsman brand to Black & Decker - packerguy® - 01-06-2017
No big deal to me.
I stopped buying craftsman handtools in the early 2000's. The last craftsman products I bought was a bandsaw in 2003? and a lawnmower in 2005. Since then, they have been dead to me. Their handtools suck now that they started making then in China. If I wanted a cheap tool....Id rather save the money and go to HF.
Its a shame, but its been coming for more than a decade.