USA department store chain Bon-Ton heads to liquidation

Share

The Register story indicates that all 15 Younkers stores in the state, including the one at NorthPark Mall in Davenport, will shutter when the store's parent company, Milwaukee-based Bon-Ton Inc. moves through bankruptcy.

Bankrupt department-store chain Bon-Ton Stores Inc. appears to be heading for liquidation after receiving two bids, both from liquidators, in a court-supervised bankruptcy auction on Monday, as the Central Penn Business Journal explained Tuesday morning.

However, Reuters also reported that the auction was still in progress late Monday night.

NFL Draft: Steals and bargains with Alabama roots
Instead, like this offseason has shown, things heat up as talk about free agency and the 2018 NFL Draft get all the attention. This is our first full first round mock draft of the season and it can't come at a better time.

Younkers was founded in Keokuk, Iowa in 1856 and opened its flagship store in Des Moines in 1874.

Bon-Ton had been working with an investor group that included USA mall owners Namdar Realty Group and Washington Prime Group Inc.to secure a bid that would have kept Bon-Ton in business as a going concern.

Now there are 8 Bon-Ton locations here including one at the McKinley Mall, who really can not afford to lose another property.

Clermont Release Statement Distancing Themselves From Paddy Jackson
The two, who were banned from playing pending the trial, had pleaded not guilty to charges over the alleged incident on June 28, 2016.

A Bon-Ton spokesperson was not immediately available for comment on the auction.

But U.S. Bankruptcy Judge Mary Walrath said last week she would not approve that payment, noting Bon-Ton was not paying the fees of any other bidders and that the offer from the investor group did not amount to a qualified bid.

Bon-Ton and Toys "R" Us operated a combined almost 60 million square feet (5.6 million square meters) of store space, according to their latest annual reports, and employed a combined 83,000 when they entered bankruptcy.

Authorities Find Two More Bodies of Valencia Family Vanished
A team on a boat smelled gasoline about half a mile (1 kilometer) downstream from where the crash was reported and found the SUV. A poster shared by friends and family on Facebook said their last known location was the "Klamath-Redwood National Park area".

Once the deal is approved by the U.S. Bankruptcy Court in Wilmington, Delaware, the liquidation firm can begin going-out-of-business sales.

Share