Simple really. the CEO of the parent company wants to build an online shopping portal, which is SYW (blend of ****** and alibaba). Rather than fund this the normal way, with massive VC cash, he is going old school. Basically leaching cash from Kmart and Sears to build up the new company. Kmart will go under as it debt increases and ultimately file for bankruptcy (again), and likely disappear as assets are sold off. Sears may not die out completely but will also declare bankruptcy (again), and some of their sub brands may be sold off (craftsman, lands end, kenmore, etc). But since SYW, SEARS, and Kmart are all separate corporations SYW will be insulated from the bankruptcies. SYW becomes a billion dollar shopping portal (probably not but thats the plan...), and the parent company goes on to higher profits after shedding all the dead weight (ie debt).
and of course we get to ride along, filling our own pockets, then jumping ship when we see the waterfall...