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Sears and Kmart
Sears never really recovered from its disastrous 2005 merger with Kmart. Both were pioneers -- Sears (SHLD) invented catalog sales in the 19th century, while Kmart was one of the earliest big-box discount retailers.
But now the company is burning cash, and sales have declined for each of the last six years. A particularly grim omen: Sears recently announced plans to shutter its flagship store in Chicago.
- Last updated June 24 2014 11:21 AM ET
