Bon-Ton is closing 212 stores as it liquidates its assets.
- The Bon-Ton Stores is preparing to wind down its business after two liquidation firms β Great American Group and Tiger Capital Group β won a bankruptcy auction Tuesday.
- In a bankruptcy filing on Wednesday, the company detailed the addresses of the stores that would be closing.
- 212 stores across the company's brands are included on the list.
The Bon-Ton Stores is on its way out.
Just two months after it filed for Chapter 11 bankruptcy protection, the assets of the 100-year old department store chain β which owns multiple store brands including Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers β were purchased by two liquidation firms on Tuesday.
In a bankruptcy court filing on Wednesday, lawyers for the company outlined which of its stores would be liquidated. There are 212 locations across Bon-Ton's brands on the list. According to the filing, all stores will close by August 31, and going-out-of-business sales are expected to begin imminently.
The company was operating 260 stores when it filed for bankruptcy. It had already been conducting clearance sales at 42 of its least successful stores, which are expected to close by the end of the month, according to USA Today.
Bon-Ton did not immediately respond to Business Insider's request for comment on the store closures.
CEO Bill Tracy addressed the successful bids by liquidation firms Great American Group and Tiger Capital Group in a statement on Tuesday:
"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. 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."