Judge approves liquidation of Bon-Ton Stores Inc

20 April, 2018, 01:52 | Author: Teresa Adams
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Stores are to be closed by August 31 at the latest, according to court documents, which also stated coupons are no longer accepted.

The Bon-Ton Stores is preparing to close its business after two liquidation companies, Great American Group and Tiger Capital Group, won a bankruptcy auction. Almost 25,000 employees will soon be out of work, including more than 350 in Nebraska.

More recently, the company also received a letter of intent and not a formal bid from an investor group of two mall owners and a NY investment firm including Namdar Realty Group, Washington Prime Group and hedge fund DW Partners.

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Bon-Ton has stores in the Eastern Hills Mall, McKinley Mall, Chautauqua Mall, Olean Center Mall and the former Summit Mall, as well as in West Seneca, the Town of Tonawanda and Lockport.

A bankruptcy court hearing was scheduled Wednesday to approve the sale and liquidation details, but a statement from the company's CEO suggested the end for The Bon-Ton Stores Inc.is certain.

Stores affected by the Bon-Ton Stores liquidation will have going-out-of-business sales starting Friday, according to a news release from corporate officials.

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"We will continue to serve you and service your account until your balance is paid in full", the site said.

The company operated 250 stores in 23 states including several Younkers department stores in Iowa and Herberger's in Ottumwa.

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