Sears Sells Craftsman Brand, Will Close 150 Stores

Sears Holdings Corp. pronounced it would tighten another 150 stores and sell a Craftsman apparatus code for $900 million, as a cash-strapped tradesman continues to cringe and conflict slumping sales.

Sears is flipping a Craftsman code to Stanley Black Decker Inc., and it will permit behind a ability to sell Craftsman-branded products royalty-free for 15 years after a deal’s closing. The merger gives Stanley a rights to…

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