Sears running out of time, may have assets liquidated soon

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The clock appears to be ticking for one of America's venerable brick and mortars. Sears could be down to their final hours. (AP Photo/Jeff Martin)

The clock appears to be ticking for one of America's venerable brick and mortars. Sears could be down to their final hours.

The 125-year old company filed bankruptcy in October. It now appears its Chairman, Eddie Lampert, may be its last hope. He has until 1:00 p.m. Friday to make a bid for the chain. But it's unclear whether he had lined up enough funding.

RELATED: Sears Through the Years: 7 Things to Know

If Lampert or someone else does not make a bid, the company faces liquidation.

Sears also owns Kmart, which would also go out of business.
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