Sears Hometown and Outlet Stores Inc., which was spun off in 2012 by Sears Holdings Corp., said Friday it plans to close up to 100 of its 882 stores this quarter to reduce costs, WSJ Pro Bankruptcy reported. The Hoffman Estates, Ill.-based appliance, hardware and lawn-and-garden retailer announced the cuts while reporting a $9.4 million loss for the first quarter ended May 5. Chief Executive Will Powell said that proceeds from the liquidation of inventory in the stores that are closing will be used to pay down debt. Most Sears Hometown stores are run by independent dealers and franchisees. In March, Sears Hometown started a print, digital and television marketing campaign, including the company’s first-ever national TV ads, to highlight its stores, emphasizing that the locations are independently owned and run by people who don’t work for Sears.
