Sears plans to consolidate its distribution operations, in another move to bolster its ailing retailing unit.

January 1990: Turmoil in the junk bond market increases as two major retailing units of the Campeau Corporation file for Chapter 11 bankruptcy protection.

The retailing unit, reorganized under the name Federated Stores Inc., listed debts of $7.5 billion in its Chapter 11 bankruptcy filing.

Sears's chairman and chief executive, Edward A. Brennan, also moved to streamline the company's retailing unit by eliminating two senior executive vice president positions.

A decision by Campeau to seek bankruptcy protection for the two big American retailing units would buy valuable time but would diminish the company's control over its future.

According to the bankers, the Mobil Corporation, which has owned Montgomery Ward since 1976, is seeking at least $1.5 billion for the retailing unit.

Compuadd, a privately held maker of personal computers, announced today that it would close its 110-store retailing unit by the end of the year.

In 2003, Kingfisher demerged the electrical retailing unit of its business to form Kesa Electricals.

Profits were also hurt by the sale of a stake in one of the retailing units of Hanjaya Mandal Sampoerna last year.

The two American retailing units of Canada's troubled Campeau Corporation reported improved sales and narrower losses for February.