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Once Iconic US Retailer Sears Unsure of Its Future

Sears, once the monolith of American retail, says that there is “substantial doubt” that it will be able to keep its doors open. Company shares, which hit an all-time low last month, tumbled more than 12 percent Wednesday. Sears has been a member of the retail dead pool for years, but until this week the company had not openly acknowledged its tenuous existence, said Ken Perkins, who heads the research firm Retail Metrics LLC. Sears has long maintained that by...

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