Bon-Ton Stores' going-out-of-business sales start Friday
Details about going out of business sales will be coming.
Teresa BoeckelUpdate on Thursday: According to several reports, the store's going-out-of-business sales for 212 stores and e-commerce websites will begin Friday under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers locations.
Update on Wednesday: The U.S. Bankruptcy Court for the District of Delaware has approved the winning bid, according to a news release from The Bon-Ton Stores Inc.
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Reported Tuesday:
The Bon-Ton Stores Inc. are set to close after a winning bid went to liquidators at auction on Tuesday, according to a company news release.
Holders of the company's 8.0% Second Lien notes, the Great American Group LLC and Tiger Capital Group LLC, will acquire the inventory and certain other assets of the company, the news release states.
The winning bid will need to be approved by the bankruptcy court on Wednesday.
“While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve," Bill Tracy, president and chief executive officer, said in the news release.
"We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years," he said in the release.
More on Bon-Ton and its history:
- More:The end of Bon-Ton? Only bids for department store chain come from liquidators: Reports
- More:Facing bankruptcy, Bon-Ton in talks with buyer
- More:The wolf is at the door of grandma's store, but next generation of shopping looks exciting
- More:The Grumbachers - who were they and why were they so influential?
- More:Remember the Mirrored Ball at York's Bon-Ton? Know what became of it?
More details about the liquidation plans and going out-of-business sales will be released following approval by the court, the news release states.
Reuters reported Tuesday night that another retailer might acquire some of the stores and operate them under one of the Bon-Ton names.
The company's stores include Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's, and Younkers.