Conaway and Schwartz were accused of misleading shareholders and other company officials about the company's financial crisis while making millions and allegedly spending the company's money on airplanes, houses, boats and other luxuries. At a conference for Kmart employees on January 22, Conaway accepted "full blame" for the financial disaster. As Kmart emerged from bankruptcy, Conaway was forced to step down, and was asked to pay back all the loans he had taken.

https://en.wikipedia.org/wiki/Kmart

Then they bought Sears, though that brand was already a sinking ship.

See; this is how providing proof works. Not just spouting something and saying “go look it up”