The Bon-Ton is bowing out of Rochester with plans to sell three stores in that market for $13.25 million.
The buyer of the retail outlets is Wilmorite Management Group, which owns the three malls where the stores are located.
The Bon-Ton Inc. said the sales and subsequent closings of the Greece Ridge Center and the Eastview Mall locations are scheduled for March 2012. The sale of the Marketplace Mall location is slated for completion by March 2014. The three stores combined have just under 200 workers.
"The company continually reviews the performance of its assets; as a result of these reviews, we made the decision to pursue the sale of the aforementioned stores," said a statement from Bud Bergren, president and CEO.
The Bon-Ton Stores Inc. (NASDAQ: BONT), with corporate headquarters in York, Pa., and Milwaukee, operates 275 department store. It has a half dozen stores in the Buffalo area.