New York (CNN Business) Time is running out for Sears. Parent company Sears Holdings, which filed for bankruptcy in October, had a deadline of this past Friday to accept a $4.4 billion bid from the hedge fund run by its chairman and former CEO, Eddie Lampert . But the deadline passed without any word from Sears on the status of the bid. Lampert's hedge fund also declined to comment. If Sears doesn't accept Lampert's bid as a valid offer, it likely will have to ask the court for permission to start shutting down the business.

Source: CNN January 07, 2019 18:00 UTC