A year ago, the question was "to file or not to file." Now, 11 months after Kmart Corp.’s Chapter 11 filing made it the largest U.S. retail bankruptcy ever, the question for the Troy, Mich.-based discounter is "to be or not to be," and there’s no answer yet.

Executives at the nation’s third-largest retailer have been adamant about filing a plan of reorganization by late February, with an exit from bankruptcy proceedings sometime in July.

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