The Bon-Ton Stores, Inc. will close all of its stores.
A winning bid was made in an auction for all of the company’s assets, the company announced Tuesday night.
The bid, by Great American Group, LLC and Tiger Capital Group, LLC. is expected to be approved by Bankruptcy Court Wednesday.
The Bon-Ton Store’s website and mobile apps, including under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers, will remain open throughout the court-supervised asset sale process, the company confirmed in a Tuesday press release.
“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.”
In February, Bon-Ton Stores filed for bankruptcy.