Bon-Ton Stores looks headed to closure; future of local Carson's unclear

Report Only auction bidders for Bon Ton Stores Inc. are liquidators	 	 	 			Boston Store

Reuters, citing anonymous sources, reported late Monday that the only bids that came in during a bankruptcy auction Monday were from two groups that want to liquidate the company.

Other Boston Stores in the state operated by Bon-Ton are located at Brookfield Square west of Milwaukee, at Grand Avenue and Southridge malls in Milwaukee, at Mayfair Mall in Wauwatosa, Bayshore Mall in Glendale and at Regency Square in Racine.

One liquidator group estimated their initial bid was worth about $650 million, according to a creditor representative who spoke to Reuters.

Two mall owners teamed up to make a bid to keep the stores going. The auction ran late Monday and is still underway, according to NY research firm Reorg Research.


A Bon-Ton spokesperson was not immediately available for comment on the auction.

Bon-Ton filed for bankruptcy February 4 and had been searching for a buyer that would allow it to stay in business. Bon-Ton is the parent company for a 260-store chain of retailers in 24 states, including Carson's, Younkers, Elder-Beerman, Bergner's, Boston Store, and Herberger's, as well as the Bon-Ton. There is also a Younkers store in Duluth.

We are hearing more and more of these stories lately about brick and mortar stores closing their doors with the convenience of online shopping. The news service noted that once the company selects a winning bidder and the federal court overseeing Bon-Ton's bankruptcy proceedings approves it, "the liquidator can begin selling the inventory, store leases, fixtures and intellectual property".

Sports Authority Holdings Inc, apparel chain The Limited Stores LLC and electronics seller hhgregg Inc are among the chains that have gone out of business recently.

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