Two liquidation companies win auction for Bon-Ton Stores

Two liquidation companies win auction for Bon-Ton Stores

Customers may be wondering what happens to credit accounts if the store closes.

Stores across the country, including Younkers locations in Nebraska and Iowa, will close by August 31, according to court filings reported by Dow Jones. Bon-Ton now has 250 stores, 38 of which are already in liquidation from a previously announced store closure process.

The move impacts several local employees, who learned of the closure on Tuesday.

With bankrupt parent company Bon-Ton Stores now owned by liquidators, the retail chain is conducting an "orderly wind-down" of its 250 stores around the country, a news release said Thursday. The liquidation sales are expected to run for approximately 10-12 weeks.

The liquidation sales come after the U.S. Bankruptcy Court for the District of DE approved an agreement between the company and the liquidators yesterday. That left only liquidation firms bidding for the company.

This will also see the closings of stores in Sheboygan Falls, West Bend, Green Bay, Rice Lake, LaCrosse, Eau Claire, Marshfield, Janesville, Milwaukee, Glendale, Racine, Brookfield, Greendale, Madison, and Wauwatosa.

On Wednesday a judge approved the sale of Bon-Ton Stores a joint venture of two liquidation firms and a group of company bondholders.

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