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Quaker Steak & Lube on track to open 11 restaurants in 2012
Sharon, Pa. -- Casual-dining chain Quaker Steak & Lube said Monday it has opened its 50th restaurant in Lakewood, Ohio, and is on track to open 10 additional restaurants this year. The brand also will be expanding to six new markets with five franchise groups over the next several years.
"Over the past six months, we signed agreements to develop 11 new restaurants around the country, including three corporate locations in Texas," said John Longstreet, president and CEO.
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Report: Sears to spin off Hometown, Outlet into separate public company
Hoffman Estates, Ill. -- A report released Monday by the Associated Press said that Sears Holdings Corp. would be spinning off its Hometown and Outlet stores, along with some hardware stores, into a separate, publicly traded company.
Earlier this year, Sears had revealed it would split the companies but had not indicated the new organization would be a separate public entity.
There are approximately 1,238 Hometown, Outlet and hardware stores. Five Hometown stores have been closed, along with eight hardware stores and one Outlet unit.