News of another one-off cash infusion to keep Sears afloat a bit longer:
Citi Retail Services and Sears Holdings Announce Extended Relationship and Shop Your Way® Benefits
https://searsholdings.com/press-releases/pr/2098
May 21, 2018
" Hoffman Estates, Ill. / New York – Citi and Sears Holdings are pleased to announce the long-term extension of their 15-year co-brand and private label credit card relationship along with long-term marketing arrangements that include ongoing enhancements to the Shop Your Way® Mastercard rewards program.
Shop Your Way Mastercard cardholders will now enjoy generous benefits every day that previously were only available on a promotional basis. These cardholders will automatically earn more Shop Your Way points, including:
5% back in points on eligible purchases made at gas stations;
3% back in points on eligible purchases at grocery stores and restaurants;
[5% and 3% back on the first $10,000 of combined eligible purchases made annually on gas, groceries and restaurants and 1% thereafter]
2% back in points on eligible purchases made at Sears and Kmart; and
1% back in points on all other eligible purchases.
...
“We are pleased to extend our long-standing, successful relationship with Sears. The extension provides for strong long-term economic value for both Citi and Sears, and we are especially proud to provide enhanced benefits to our Shop Your Way Mastercard cardmembers every day, at the places they shop most,” said Craig Vallorano, Head of Citi Retail Services. “Consistent with other top-of-wallet credit cards, more than 70% of customer spend on our Citi-Sears general purpose cards occurs at merchants beyond Sears, so this enhanced rewards structure is designed to deliver strong value for Shop Your Way card customers as well.”
...
In conjunction with the extension of the agreement, Citi will pay Sears $425 million ($400 million of which has been received) upon entry into the amendment, which encompasses a number of program changes.
The shared economics of the program will remain substantially consistent with the existing agreement through December 31, 2020, and will be performance-based thereafter.
... "
Definitely ask.
The search continues.