Yes it is. It's kinda sad too. I saw Lowe's is now touting itself as the "official home of Craftsman tools". Hate to see it go but Sears' business model was fugged up for many many years and it's lucky to have stuck around this long. Stodgy company that resisted progress. Used to be at least one of a cornerstone store(s) of many a sprawling mall complex across the U.S. My dad always used to say Sears had next year's prices this year. I remember in Chicago we'd go to the Sears store as a kid for shopping trips and I was always amazed at the gigantic candy counter they had. OMG a kid could die of sugar intake...heaven.
I never had a credit card until 1985. The first two I got were an Amoco and a Sears card. In 1985. Had the Amoco card for a couple of months when I went to Sears to have the oil changed in my 85 442 that I had about 6 months at that point. They had a killer deal on it. The sales guy also said I could get a lifetime alignment on the car at 1/2 off if I opened a Sears account. I said the car was almost new. But they went ahead anyway and I got my account and the lifetime alignment. Wow, everything was still in alignment. Who'd have though? Later, I recall around 1996 or 1997, I had them do an alignment on the car. When I showed them the paperwork, they were like, dude, we don't offer this lifetime alignment any more, but hey, it's free.
And the tool warranty? Couldn't beat it. I recall the days they gave you NEW tools when you brought back a broken ratchet or something. Several years ago they started giving you "refurbished" junk. You really had to do some crazy shi t to break those things in the old days. Ratchets could be hammers too.
But I digress. I have more Sears stories, but it'll be sad to see the official ending of Sears.