Bon-Ton may close all Herbergers, Younkers stores

Bon-Ton may close all Herbergers, Younkers stores

The bankrupt department store chain is likely to close all of its stores and sell off its merchandise after only two bidders - both liquidators - made offers during a bankruptcy court auction that began on Monday, according to a report from Reuters.

The bankruptcy auction for Bon-Ton's assets, which is being held at a law office in NY, will resume this morning at 8 a.m., according to the Reorg Research report.

Before the auction, Bon-Ton was trying to find a buyer so it could keep some of its stores open but that option failed.

A spokesperson for Bon-Ton did not immediately respond to a request for comment, Reuters said.

Along with Milwaukee, Wisconsin, Bon-Ton also has corporate offices in York County.

"I hope it doesn't go to liquidation, they've been important to their communities here in the state", said Jerry O'Brien, executive director of the Kohl's Center for Retailing Excellence at UW-Madison.

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The last two area Younkers stores will close in June, it was reported on Tuesday. The company filed for bankruptcy in February.

The company's stores include Carson's, Younkers, Elder-Beerman, Bergner's, Boston Store, and Herberger's, as well as Bon-Ton.

Whatever proceeds Bon-Ton Stores Inc. receives from the sale will go towards paying back what is owed to creditors.

Reuters reports, the only bidders competing at the Monday start of its court-supervised auction were liquidators.

In addition to the major mall anchors, Bon-Ton stores occupy giant boxes at local shopping plazas, including the Southgate Plaza in West Seneca, on Sheridan Drive in the Town of Tonawanda and on Transit Road in Lockport.

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