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Bon-Ton bid appears to be falling short

17 April 2018

Attorneys and spokespeople for Bon-Ton did not immediately reply to Retail Dive's request for comment.

Bon-Ton had been working with property owners Washington Prime Group and Namdar Realty Group to buy the company out of bankruptcy and continue operating some of the stores.

Reuters, citing anonymous sources, reported late Monday that the only bids that came in during a bankruptcy auction Monday were from two groups that want to liquidate the company.

Multiple media outlets - including the Des Moines Register and KCRG in Cedar Rapids - are reporting that the pending liquidation of Younkers will lead to the closure of a number of the company's department stores in Iowa.

Bon-Ton has not yet responded to the reports.

Bon-Ton operates two Younkers stores in Omaha at Oak View and Westroads Malls and one at Gateway Mall in Lincoln.

Younkers has had a store at Gateway since 1987, when it bought Omaha-based Brandeis.

Money from the auction will be used to pay Bon-Ton's creditors. It has stores throughout the state including the Boston Stores at Mayfair Mall in Wauwatosa, Southridge Mall in Greendale, the Shops of Grand Avenue in downtown Milwaukee, Bayshore Town Center in Glendale, Brookfield Square Mall in Brookfield and Regency Mall in Racine.

Other stores operated by Bon-Ton are under the Bon-Ton, Bergner's, Carson's, Elder- Beerman and Herberger's names, but most of its stores have histories that predate the parent company.

Sports Authority Holdings Inc, apparel chain The Limited Stores LLC and electronics seller hhgregg Inc are among the chains that have gone out of business recently.

Bon-Ton bid appears to be falling short