Update 10/15/18: It’s official, Sears is filing for chapter 11 bankruptcy. 142 stores will be closed before years end. If you still have Sears/Kmart SYWR points – use them!
WSJ is reporting that Sears is preparing to fill bankruptcy based on sources familiar with the matter. For more information regarding that, I’d recommend reading the WSJ article. This post is really just to remind all readers with any Shop Your Way Rewards points to use them ASAP. Unfortunately some people undoubtedly made purchases that were offering points over a schedule of 12 months, if Sears does file for bankruptcy they seem set to lose out. After Toys R Us filed for bankruptcy gift card holders were given a month or so to use their gift cards, it’s unclear how SYWR points will be handled if bankruptcy is filed.
The other question we don’t have any clarity on is what will happen to Citi Sears cardholders, Citi & Sears signed a new co-branded deal worth $425 million in only May of this year.