Sears running out of time, may have assets liquidated soon

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.

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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.