The Bon-Ton could soon be long gone

The Bon-Ton could soon be long gone

The Bon-Ton could soon be long gone

Efforts to auction off the Bon-Ton Stores, Inc.

On Monday Bon-Ton Stores Inc. only received bids from liquidators during its bankruptcy auction according to Reuters, signaling the possibility of closure for the retail giant.

Bon-Ton filed for bankruptcy February 4 and had been searching for a buyer that would allow it to stay in business.

The bankruptcy auction for Bon-Ton's assets, which is being held at a law office in NY, will resume this morning at 8 a.m., according to the Reorg Research report. The Pennsylvania-based Bon Ton attempted to auction off its assets this week, but the only bidders were two companies that specialize in liquidating failed businesses.

Late last week, it notified officials across its 23-state footprint of potential store and fulfillment center closures, including locations in Lancaster, York, Bethlehem and Whitehall Township, Lehigh County.

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Reuters reports, the only bidders competing at the Monday start of its court-supervised auction were liquidators.

After more than seven decades of being in Sioux City, it appears Younkers department store will likely close its doors for good this summer. Great American also is part of the Toys R Us liquidation. Both have served as anchor stores for the mall.

The announcement that Younkers will close is the second blow to Lindale Mall in less than a week.

That group last week said it had signed a letter of intent to buy Bon-Ton and keep the business going under current management.

Mike Kohan, who purchased Southbridge Mall for $1.5 million in September 2016, told a Globe Gazette reporter twice via phone early Tuesday afternoon that he was busy but wanted to talk.

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