Fake Christmas trees and holiday lights could be the last items Sears ever sells.

The 125-year-old retailer is being nudged into liquidation by its lenders, which are willing to pony up $300 million to $500 million to get it through the holiday period, according to a CNBC report.

The idea is to prop up Sears while the company searches for a buyer, according to the report, which cited unnamed sources.

Sears CEO Eddie Lampert is putting together a proposal to buy the company out of bankruptcy, but creditors appear skeptical and have been pressing for an outright liquidation, according to reports.

Talks are continuing in advance of a $134 million debt payment that’s coming due for Sears on Monday — a payment that Lampert has reportedly told associates he doesn’t plan to make.

Lampert is currently Sears’ largest shareholder, with about half the company’s shares. In early afternoon trades on Friday, the stock was up 25 percent, at 43 cents, giving Sears a market capitalization of $47 million.

The latest plan would involve closing some of the 866 stores immediately, although it isn’t clear how many.

Among the Sears assets that haven’t already been pledged to lenders are its Kenmore brand, about 200 stores and its home improvement and services division.

As part of a restructuring plan, Lampert offered to purchase Kenmore and the home division for $480 million, which would allow Sears to pay its debt obligation and to stock up on merchandise for the holidays.

But Sears’ board recently rejected the plan, according to reports.

This week Sears added a bankruptcy specialist, Alan Carr, to its board of directors and it retained a boutique restructuring firm, M-III Partners.