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Is the Potential Demise of Sears an Asset or Albatross for J.C. Penney?

For now, Sears and Kmart will remain operational through the Sears Holdings bankruptcy proceedings thanks to gaining approval to tap $300 million in debtor-in-possession financing, giving the chains an opportunity to remain open for the holidays—less the 142 locations that are already slated to close. Depending on who you talk to, the Chapter 11 filing…

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