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Bon-Ton stores on brink of closing

Posted: 11:22 AM, Apr 17, 2018
Updated: 2018-04-17 22:12:45Z

It appears the end is near for Bon-Ton.

According to Reuters, only two bidders - both liquidators - made offers to purchase the bankrupt department store chain at an auction on Monday. 

Without a buyer interested in keeping the Bon-Ton name alive, the chain is likely to go out of business. 

The Bon-Ton has 260 stores in 24 states, including eight in Western New York: at the Chautauqua Mall in Lakewood, Eastern Hills Mall in Clarence, South Transit Road in Lockport, McKinley Mall in Blasdell, Olean Center Mall, Sheridan Drive in the Town of Tonawanda, Southgate Plaza in West Seneca, and the former Summit Park Mall in Wheatfield. 

The York, Pennsylvania-based chain  filed for Chapter 11 bankruptcy  in February.

According to retaildive.com , the chain's topline sales have been falling since 2007 and it has not turned a profit since 2010.

 

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