Sears CEO Calls Out Suppliers

(RTTNews) - Sears Holdings Corp. Chief Executive Eddie Lampert on Monday blasted One World, a supplier of Craftsman power tools, for threatening to sue the financially struggling retailer.

In a post titled "Taking a Stand to Protect Our Company," Lampert said that the retailer would not allow to be taken advantage of and will "do what's right to protect the interests of our company and the millions of stakeholders we serve."

Lampert accuses One World of threatening to refuse to perform under their Supply Agreement unless Sears agree to unreasonable demands.

"One World has informed us of their intention to take the very aggressive step of filing a lawsuit against us as they seek to embarrass us in the media to force us to let them out of their contract," Lampert says.

"Sears has nothing to be embarrassed about. We have lived up to our word under our contract, and we will take the appropriate legal action to protect our rights and ensure that One World honors their contract."

One World is a subsidiary of Techtronic Industries, a conglomerate based in China with over $5 billion in revenues.