After a "difficult, but necessary" decision, Sears announced the closing of Sears and Sears Auto Center in Mentor and Middleburg Heights.
Liquidation sales in the stores begin today. Earlier this month, liquidation sales began at the Sears location at Midway Mall, which is also closing this year.
According to a company spokesperson, shoppers will still be able to maintain a relationship with the retailer online.
"We understand that members may be disappointed when we close a store, but our Shop Your Way membership platform, websites and mobile apps allow us to maintain these valued relationships long after a store closes its doors. As a result, we hope to retain a portion of the sales previously associated with these stores by maintaining our relationships with the members who shopped this location." -- Sears spokesperson
Although the stores are closing, compare prices before you open your wallet.
Liquidation sales depend on the lure of big bargains, with consumers expecting nearly everything in the store to be on sale. We've all seen the big red signs reading 'Everything must go!' or 'Store closing sale!' but how do you really know if a liquidation sale is giving you the best prices?
According to bankrate.com, the retailer is not always managing the sale themselves. Chains sometimes contract the sale to a for-profit liquidator, who often advertise deceptive discounts.
Another catch to those sales? You may be losing your warranties. BankRate.com states that because a company is ending its business, warranties may no longer apply to certain products.
Remember, the store you're shopping at will soon be locking its doors. Check merchandise thoroughly for damage. BankRate recommends plugging in TVs at the stores and testing all electronics. Those typical 30-day return policies may outlive the store itself, so double check your merchandise while you're on location.
Other tips from BankRate include:
- Pay with a credit card to have proof of purchase beyond a receipt.
- Check with the Better Business Bureau to ensure all purchases are legal items that the store can be selling.
- Don't be afraid to haggle for prices.
- Always compare prices online and with other retailers.