Younkers to liquidate; parent company confirms store closings
Apr 19, 2018, 02:01
A message on Bon-Ton's website said all Bon-Ton, Boston Store, Bergner's, Carson's, Elder-Beerman, Herberger's and Younkers stores across the United States are open, "and our e-commerce and mobile platforms are operating normally".
Citing two unnamed sources, the chain will go out of business if the purchase by one of the bidders is approved.
The U.S. Bankruptcy Court in DE is expected to approve the sale to the liquidation company and the wind-down of Bon-Ton's operations Wednesday, said Patrick Patino, an associate attorney specializing in bankruptcies at Omaha's Koenig Dunne law firm.
Department store Bon-Ton, which operates 250 locations nationwide, announced it will liquidate all USA stores after a bid for the company's assets was accepted in bankruptcy proceedings yesterday.
Liquidators took the winning bid at Tuesday night's auction and a hearing by the Bankrupcty Court to approve the sale is expected today.
More details on the liquidation and going-out-of business sales at stores will be released following bankruptcy court approval of the liquidation.
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