Sears to Bring Back Layaway Program

Chicago Sears Holdings Corp. is bringing layaway back to its namesake stores next week, nearly two decades after it was scrapped.

The company cited strong response to the pay-as-you-go plan at its Kmart locations as the reasoning behind the program reemergence at Sears.

Layaway will be available beginning Sunday in all Sears departments except home appliances and home electronics, following the success of the reinvigorated program at Kmart.

Kmart has maintained the program for decades, but began promoting the option for the first time in years late last month. So far executives, who declined to release specific figures, called the results "tremendous."