Sears to Keep Layaway Program

Hoffman Estates, Ill. Sears Holdings Corp. will keep providing a layaway option at its namesake stores as shoppers dealing with the recession look for more options to help pay for their purchases.

The retailer relaunched the layaway program at its Sears stores over the holidays, nearly two decades after it was scrapped. The company started the program over the holiday season after seeing a strong response to the pay-over-time plan at its Kmart locations.

Kmart has maintained the program for decades, but began promoting the option for the first time in years in late October.

Sears said late Thursday that customer demand prompted it to keep layaway at most of its Sears full line and Sears hardware stores, as well as Sears Grand and Sears Essential stores, year round.