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CEO warns time is running out for Sears

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Sears CEO Eddie Lampert is cautioning that time is running out for the company.

Lampert, who controls most of the company's shares through his hedge fund, on Monday told the board the company must work on "significant near-term constraints" related to its cash position.

Lampert cited $134 million in debt payments due Oct. 15.

Read more from CNNMoney.

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