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The Sears/Kmart banners are fading away as more stores close. This process is likely to continue until there are no physical Sears/Kmart department stores left. Sears Holdings (SHLDQ) does not own the stores anymore, but is suffering in its own way with legal expenses eating away at the remains of the estate after continuing court battles.
It remains quite unlikely that shareholders will receive anything. Creditors may be able to salvage more if there is a settlement (or through litigation). With TransformCo apparently racking up significant losses of its own, the NOLs