Bon-Ton announces bankruptcy; closing 47 stores

Feb 05, 2018
  • By Debbie Lord, Cox Media Group National Content Desk
NEW YORK, NY - JANUARY 26: People shop along Broadway in Manhattan on January 26, 2018 in New York City. The Commerce Department said on Friday that the economy grew solidly for a third straight quarter late last year on strong consumer spending and business investment. The nation's gross domestic product increased at a seasonally adjusted annual rate of 2.6%. (Photo by Spencer Platt/Getty Images)

Bon-Ton Stores has announced it has filed for Chapter 11 bankruptcy protection.

The company, parent company to such stores as Carson’s, Elder-Beerman, Boston Store and Younkers announced recently it would close 47 of its 260 department stores.

Bon-Ton operates stores in 24 states, mainly in the Northeast and Midwest.

"We are currently engaged in discussions with potential investors and our debt holders on a financial restructuring plan, and the actions we are taking are intended to give us additional time and financial flexibility," CEO Bill Tracy said in a prepared statement released Sunday.

Bon-Ton received a commitment of $725 million in debtor-in-possession financing to operate during its restructuring process.
According to court filings, Bon-Ton says it will keep stores open by selling the entire company.

"The actions we are taking are intended to give us additional time and financial flexibility to evaluate options for our business," Bon-Ton CEO Bill Tracy said in a statement. 

Bon-Ton joins many major retailers in reorganizing their businesses as they fight the rise of online shopping.

Following is the full list of the stores set for closure. The closures began on Feb. 1.

Herberger's, 4235 Yellowstone Ave, Chubbuck, Idaho
Carson's Clearance Center, 970 North Lake Street, Aurora, Ill.
Carson's, 120 South Riverside Plaza, Chicago 
Carson's, 2917 N. Vermillion, Danville, Ill.
Carson's, 2550 Sycamore Rd., DeKalb, Ill.
Carson's Clearance Center, 7234 Dempster St., Morton Grove, Ill.
Bergner's, Peoria, Ill. (not specified)
Carson's, 601 North Martingale Road, Schaumburg, Ill.
Carson's, 2101 State Road 109, Anderson, Ind.
Carson's, 2104 25th St., Columbus, Ind.
Carson's, 3701 S. Main, Elkhart, Ind.
Carson's, One W. Washington St. , Indianapolis 
Carson's, 1129 N. Baldwin, Marion, Ind.
Younkers, 6301 University Avenue, Cedar Falls, Iowa
Younkers, Cedar Rapids, Iowa (not specified)
Elder-Beerman, 5105 Hinkleville Rd. #500, Paducah, Ky.
Elder-Beerman, 1357 S. Main St., Adrian, Mich.
Carson's, 1800 Pipestone Rd. Benton Harbor, Mich.
Herberger's Clearance Center, 1717 Beam Ave, Maplewood, Minn.
Bon-Ton, 270 Loudon Rd., Concord, N.H.
Bon-Ton, 1200 Highway 22 E., Phillipsburg, N.J.
Bon-Ton, 578 Aviation Rd., Queensbury, N.Y.
Bon-Ton, 21073 Salmon Run Mall, Watertown, N.Y.
Elder-Beerman, 1500 N. Clinton St. , Defiance, Ohio
Bon-Ton, 750 E. High St., Carlisle, Pennsylvania
Bon-Ton, 300 Commons Dr, Dubois, Pennsylvania
Bon-Ton, 810 Mill Creek Mall Road, Erie, Pennsylvania
Bon-Ton, 550 Galleria Dr. , Johnstown, Pennsylvania
Bon-Ton, 3 Susquehanna Valley Mall, Selinsgrove, Pennsylvania
Bon-Ton, 2901 E. College Ave, State College, Pennsylvania
Bon-Ton, Rte. 611 & Bridge St., Stroudsburg, Pennsylvania
Bon-Ton, 6900 Hamilton Blvd., Trexlertown, Pennsylvania
Herberger's, 1300 N. Main Street Ste. 100, Logan, Utah
Younkers, 4301 W. Wisconsin Avenue, Appleton, Wisconsin
Boston Store, 1645 North Spring Street, Beaver Dam, Wisconsin
Elder-Beerman, 100 Beloit Mall, Beloit, Wisconsin
Younkers, 755 West Johnson Street, Fond Du Lac, Wisconsin
Younkers, 700 E Magnolia Avenue, Manitowoc, Wisconsin
Younkers, 2600 Roosevelt Road, Marinette, Wisconsin
Boston Store Clearance Center, 5659 S 27th St, Milwaukee 
Younkers, 69 N 28th St. E, Superior, Wisconsin
Younkers, 300 Forest Street, Wausau, Wisconsin
Bon-Ton, Hagerstown, Md.
Younkers, Marquette, Mich.
Bon-Ton, Massena, N.Y.
Bon-Ton, South Burlington, Vt.
Elder-Beerman, Vienna, W.Va.

The Associated Press contributed to this report.