Bankruptcy Court Approves Bon-Ton Sale; All Stores to Close
The Bergner’s department store at Eastland Mall will close, mall owner CBL Properties confirmed Thursday.
Parent company Bon-Ton Stores announced Wednesday that a liquidation firm won the bid for the company in a bankruptcy court-supervised auction Tuesday. Bon-Ton issued a press release late Wednesday that the court had approved the sale.
CBL Director of Public Relations and Corporate Communications Stacey Keating said Bon-Ton has not yet set an official closing date for the Eastland location.
CBL said in a company statement it’s already working to fill the upcoming vacancies at its shopping centers:
“We are certainly disappointed with the outcome, but this is an opportunity to continue to evolve our properties through transformative anchor redevelopments. We have been monitoring this situation closely and we have been working on contingency plans for each center impacted. We have several replacements under advanced negotiation. We will announce more details when plans are formalized and leases have been executed.”
A website dedicated to the company’s restructuring says Bon-Ton expects the liquidation process in all its stores to begin soon.
“Throughout the store closing sales, our stores, e-commerce and mobile platforms under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates will remain open and serving customers. We will continue to provide more details on our going out of business sales in the near term.”