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The Detroit News reports that former Kmart CEO Joseph Antonini, who was ousted by the retailer in 1995 as sales and profits declined, is being sued by five banks that accuse him of defaulting on more than $2.3 million in loans.

In addition to Antonini, two of his businesses are named in the suit - JEA Automotive Group and JEA Enterprises – but published reports say the two businesses do not seem to have addresses or contact information.

When Antonini’s tenure at Kmart ended, he got a severance check for $1.3 million plus an annual pension of $527,000 for life.

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