Younkers parent company, Bon-Ton, announces going out of business sales
- Author: Kelly Blake Apr 22, 2018,
Apr 22, 2018, 2:15
After the parent company of Carson's failed to find a bidder willing to keep the business going, Bon-Ton Stores will close its department stores after more than 160 years in operation. Bon-Ton now has 250 stores, 38 of which are already in liquidation from a previously announced store closure process.
"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", said President and CEO Bill Tracy.
But when the bidding opened, reports indicate the only firms offering bids were liquidators. In the eastern part of the state, it operates stores in Saratoga Springs, Queensbury and Newburgh.
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Headquartered in Chattanooga, Tenn., CBL Properties owns 119 properties totaling 74.4 million square feet across 27 states, including 76 high-quality enclosed, outlet and open-air retail centers and manages 12 properties for third parties.
The mall launched a "Thank you for shopping locally" campaign previous year to educate the public about the impact of shopping out of town and online.
A bankruptcy filing list filed on Wednesday, includes 20 stores in Minnesota, three in North Dakota and four in South Dakota that will close, including the Dickinson location at the Prairie Hills Mall. J.C. Penney Co. originally occupied the site now used by Kohl's, but later moved to its current site following the departure of Ames.
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"I actually was a model as a baby in the window of Boston Store, long ago", said Williams.
"The trend has been steady, within a few hundred jobs, for the last 10 years", said Dietmeier, who speculated that the impact of store closings has been muted by increased hiring among remaining retailers who are focusing more on customer service in response to the growth in online shopping.
Bon-Ton is one of two area chains to declare bankruptcy in February.
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