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The agreement announced yesterday calls for Stanley to pay $525 million when the deal closes and another $250 million after three years, the companies said. New Britain, Conn.-based Stanley will pay Sears a percentage of its new sales of Craftsman products for 15 years. Sears also said it would close 150 unprofitable stores. Sears Holdings previously announced on Dec. 27 that it would close a Sears store and Sears Auto Center in Swansea at the end of March, as well as Kmart stores in Fairhaven and South Attleboro. Bees Knees is seized by state Fort Point gourmet grocery store Bees Knees has been seized by the state of Massachusetts for nonpayment of taxes, according to food industry website Boston Restaurant Talk. A seized sign was spotted out in front of the store saying the now-closed premises are in the possession of the Commonwealth of Massachusetts. Wal-Mart unit buys ShoeBuy The online retailer, now owned by Wal-Mart, says it has acquired the Boston-based footwear-shopping website ShoeBuy for about $70 million. ShoeBuy offers more than 800 brands of shoes, clothing and accessories. Arkansas-based Wal-Mart Stores Inc.

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