Map: Bon-Ton Stores closing around the US

Map: Bon-Ton Stores closing around the US

Bon-Ton has 250 stores, 38 of which are already in liquidation from previously announced store closures.

The closing sales at Herberger's started today.

The Bon-Ton Stores Inc., which traces its roots to the 19th century, tried to find a buyer to continue operating the business, but an 11th-hour bid never quite came together from a group that included a NY hedge fund and two mall operators, leaving only liquidators to compete for the company's assets at an auction that concluded Tuesday.

The firm announced late Wednesday that a federal bankruptcy court in DE approved the sale of the firm's inventory and "substantially all" of the company's assets.

In a customer notice, gift cards/gift certificates will only be good for 10 days following the first day of store closing sales - which begins on Friday. Two liquidation firms were the victors of an auction for the bankrupt department store company's assets.

At least one other Zamias property - Indiana Mall in Indiana, Pa. - also leases to a Bon-Ton store, according to the mall's website.

The corporation has stores in 23 states. Its headquarters are in York, Pa., and Milwaukee.

The closure of Herberger's marks the latest setback at Southgate Mall, which saw the closure of Sears in 2015.

Bon-Ton stores will shut down by the end of August.

"CBL controls the Carson's space at Honey Creek Mall", CBL spokeswoman Stacey Keating said this morning. A bankruptcy court approved the sale and liquidation details after a hearing Wednesday.

"We are now evaluating several redevelopment scenarios for the Macy's building at Honey Creek and have interest from several perspective tenants and uses", Keating said. As per the terms of its partnership agreement with Bon-Ton, LXRandCo has legal ownership title to all of the inventory and store fixtures at its "shop-in-shop" locations within Bon-Ton stores and LXRandCo expects to reclaim all such inventory and fixtures in an orderly manner over the ensuing weeks. "We will announce more information as plans are finalized", she said.

CBL has a long track record of successfully replacing or redeveloping anchor locations.

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