reported a few days later that Sears Hometown and Outlet Stores acquisition offer was rejected, as a result, Sears Hometown and Outlet Stores might face liquidation, having a similar fate to Sears Holdings but which got acquired by ESL Investments a few months ago, but its biggest shareholder Eddie Lampert is trying to save the company from liquidation and hopefully continue the acquisition process. In June 2019, it was finally announced that Transform Holdco will acquire the remaining shares in the company. As per deal, Sears Hometown and Outlet Stores might need to divest its Sears Outlet division to gain approval. At the time announcement, Sears Hometown and Outlet Stores had 491 Hometown stores and 126 Outlet stores in 49 states, Puerto Rico and Bermuda. In August 2019, Franchise Group, the parent of Liberty Tax, announced plans to acquire Sears Outlet division from Sears Hometown and Outlet Stores to help fulfill Transform Holdco's requirement in Transform Holdco's acquisition of Sears Hometown and Outlet Stores. On October 23, 2019, Sears Hometown and Outlet Stores completed its sale of Sears Outlet and Buddy's Home Furnishing businesses to Franchise Group. Transform Holdco completed the acquisition of the remainder of Sears Hometown at the end of the same business day. Stores that were acquired by Franchise Group were re-branded into American Freight stores. On December 13, 2022, Sears Hometown filed for Chapter 11 bankruptcy. It was later revealed that all remaining Sears Hometown stores would be liquidated and permanently closed. Finances Subsidiaries Sears Hometown Stores Sears Hometown stores were independently owned stores that sell Sears merchandise. In 2013, 70–80% of Hometown stores were independently owned. Formerly Sears Dealer Stores, they are a chain of smaller stores that operate as a store where the proprietor owns or leases the real estate while Sears Hometown and Outlet Stores handles the marketing and owns the inventory, and there are no franchising fees levied against the store proprietor. These stores are usually located in smaller markets that do not support full-sized Sears. They are signed as Sears and are usually free-standing or located in strip malls. They primarily concentrate on hardware, appliances and lawn-and-garden supplies. Most of Hometown Stores carry Sears brand products, such as Kenmore, Craftsman, and DieHard, as well as a wide assortment of other national brands. Primarily independently owned and averaging 8,500 square feet, Hometown Stores are designed to serve customers within their local communities.