A bankruptcy court has approved the sale of all Bon-Ton stores and its affiliated department stores to a liquidator.
All remaining stores will shut down by August 31st, with going out of business sales to begin immediately.
"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 that minimizes the impact of this development on our associates, customers, vendors and the communities we serve," said Bill Tracy, President and Chief Executive Officer. "We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years."
The Bon-Ton has more than 200 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.