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Things aren't looking good for Sears.

The company is shutting down dozens of Kmart stores this month and two of its highest-ranking executives left this week in the midst of the key holiday shopping season.

This comes following speculation among Sears and Kmart employees, suppliers, and several banks that the retailer will soon go bankrupt — something Sears has repeatedly dismissed.

Jeff Balagna, formerly Sears' executive vice president, left the company Wednesday, "in order to focus on his other business interests and pursue other career opportunities," Sears said in an SEC filing dated November 23.

Balagna did not respond to a request for comment. Sears declined to comment beyond what was stated in the filing.
Sears President and Chief Member Officer Joelle Maher also left the company this week, Sears confirmed to Business Insider. The company declined to give a reason for her departure. 

The timing of the departures — so close to Sears' upcoming third-quarter earnings report and in the middle of the holiday season — is "highly unusual," according to Mark Cohen, director of retail studies at Columbia Business School and the former CEO of Sears Canada.

Cohen, who was fired from Sears in 2004, is an outspoken critic of the company and its CEO Eddie Lampert. He speculated that the timing of the departures could be indicative of something "catastrophic" in its upcoming earnings report. 

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http://www.msn.com/en-us/money/companies...ocid=spartanntp

I never thought I would live to see Sears go BK.

What's next, JC Penney?

I recall the days when Sears was a premiere retailing brand. My father once told me that to get Sears charge card was a difficult but if you could get one it meant you had solid credit. Some years go Sears sold its credit operations to Citibank and they give them out like candy.

We had an old washer and couldn't decide whether to replace or repair it. A repairman came and told me not to replace it as it was well built whereas newer models not so much. He want on to say that older Kenmores were built exclusively by Maytag and were known for their reliability and quality. Today, he said, Sears will slap the name Kenmore or anything so you have no idea what you might be getting.

I note Craftsman tools are now being sold by other vendors like Ace Hardware and from what I read the quality of these once premiere tools has declined considerably.

My point being, based on merchandise and services a male considers, Sears has shot itself in the foot.