Sears top executives flee money-losing company amidst speculation that the onetime retail giant will file for bankruptcy

Thursday, December 8, 2016
By Paul Martin

Jeff Balagna, the executive vice president, left Sears on Wednesday
So did the company’s former president, Joelle Maher
Departures come weeks after Kmart announced it would close 64 stores
Kmart, another struggling retailer, merged with Sears in 2005
Sears is due to give its third-quarter earnings report on Thursday

By ARIEL ZILBER
DAILYMAIL.COM
8 December 2016

Is time running out on Sears?
The once dominant American retail chain has seen two of its top executives leave the company this week, fueling speculation among investors that it will soon declare bankruptcy, Business Insider is reporting.

The departure of Jeff Balagna, who held the title of executive vice president, and Joelle Maher, the president and chief member officer, comes just weeks after it was announced that Kmart, which is owned by Sears parent company Sears Holdings, would shutter 64 branch stores across 28 states.

The mini-exodus of top executives has further stoked fears among employees, suppliers, and banks that the retail giant is living on borrowed time.

The Rest…HERE

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