Kmart shuttering 284 locations Conaway out as Chief Executive.(Chuck Conaway)(Brief Article)

Kmart hit the retail industry with a one-two punch this past week. First the discounter said it would dose 284 underperforming stores, less than the 500 to 700 locations some analysts predicted would go dark. Three days later, Chuck Conaway stepped down as CEO of the bankrupt chain, less than two years after he joined from CVS where he served as president and COO. Chairman James Adamson has assumed Conaway's duties as CEO. Kmart is closing down 271 discount stores and 12 supercenters in 40 states, and one kmart store in Puerto Rico. The largest number of closings will occur in Texas (33), Illinois (21) and Michigan (18). Kmart will take a charge of roughly $1.2 billion as a …