OAK BROOK, IL—Add Credit Suisse to the ranks ofanalysts calling for Sears Holdings Corp. toliquidate its stores. Published reports say that a Credit Suisseteam led by analyst Gary Balter cited the opening line of a 1967song by the Doors in summing up the retailer's prospects onThursday: “This is the end.”

Balter wrote that SHLD is generating negative cash flow of atleast $1 billion this year, and likely $2 billion. Last month thecompany reported a second-quarter loss of $573 million, compared to$194 million for Q2 the year prior. “Unless it sells off realassets while somehow maintaining the cash flow from those assets,this story is not likely to have a happy ending, and that endingcontinues to depend on suppliers,” Balter wrote.

Bloomberg reported that Mary Ross Gilbert, an analyst atImperial Capital LLC in Los Angeles, estimated last year that SHLDcould garner more than $6 billion from a liquidation sale of themore than 2,000 Sears and Kmart stores it owns or leases. Thatfigure would depend on “aggressive” assumptions, Gilbert said.