The Bon-Ton Stores operated department stores under the banners Bon-Ton, Bergner's, Carson's, Younkers, Herberger's, Boston Store, and Elder-Beerman.
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Bon-Ton serves smaller communities in 26 states across the U.S. Northeast, Midwest and Great Plains under banners including Bon-Ton, Younkers and Bergner's.
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Bon-Ton said its stores, e-commerce and mobile platforms under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates are open and operating as usual.
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RECEIVES COURT APPROVAL OF "FIRST DAY" MOTIONS TO SUPPORT BUSINESS OPERATIONS * BON-TON STORES INC - COURT APPROVAL PROVIDES INTERIM ACCESS UP TO $725 MILLION IN DEBTOR-IN-POSSESSION FINANCING * BON-TON STORES - U.
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All 256 of the Bon-Ton stores were liquidated in 2018.
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Bon-Ton and AlixPartners did not respond to requests for comment.
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"J'ai depuis lutté pour trouver le bon ton, la bonne émotion".
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Sears, Bon-Ton and Barneys New York have all gone bankrupt.
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Bon-Ton has dual headquarters in Milwaukee, Wisconsin, and York, Pennsylvania.
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Other banners owned by Bon-Ton include Carson's, Younkers and Elder-Beerman.
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Washington Prime and Bon-Ton did not immediately return requests for comment.
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Click here to see a map of the closing Bon-Ton locations.
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Elder-Beerman was part of the 2018 Bon-Ton liquidation, though it had already been reduced to a fraction of its original fleet when several stores were absorbed or transformed into Bon-Ton stores in the years before.
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The bankruptcies of Sears and Bon-Ton are also hanging over the industry.
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Both worked on the Bon-Ton and Toys "R" Us closings last year.
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That follows the department store bankruptcies of Sears and Bon-Ton in 2018.
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Over the past few years, Bon-Ton and Gordmans liquidated and Sears went bankrupt.
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Sears, by contrast to Bon-Ton, has roughly $2 billion in apparel sales, Moody's estimates.
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Others like Bon-Ton Department Stores and Toys 'R' Us have gone out of business.
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Longtime rivals Toys 'R' Us and Bon-Ton have folded and Sears filed for bankruptcy.
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N) are in talks to acquire U.S. department store operator Bon-Ton Stores Inc (BONTQ.
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Bergner's, essentially Carson's upscale Midwestern cousin, closed alongside its fellow Bon-Ton brands in 2018.
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The clothing chain Bon-Ton also liquidated earlier this year and closed all its stores.
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Our Bon-Ton encompassed many different fantasies, but was still small enough to contradict itself.
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ENTERS INTO FORBEARANCE AGREEMENTS * BON-TON STORES INC - FORBEARANCE AGREEMENTS WILL EXPIRE ON JANUARY 26, 2018, UNLESS FURTHER EXTENDED BY PARTIES * BON-TON-ENTERED FORBEARANCE DEALS WITH ABL CREDIT AGREEMENT LENDERS,AD HOC GROUP OF HOLDERS OF ABOUT 75% AMOUNT OF CO'S 8.0% SECOND LIEN NOTES DUE 2021 * BON-TON STORES- ABL CREDIT AGREEMENT LENDERS & FORBEARING HOLDERS OF 2L NOTES TO FORBEAR FROM REMEDIES IF CO DOES NOT MAKE INTEREST PAYMENT DUE ON DEC.
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Besides Sears, retail bankruptcies such as Toys R Us and Bon-Ton Stores Inc created vacancies.
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Bon-Ton operated roughly 250 stores when it filed for Chapter 11 bankruptcy protection in February.
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Chains like J.C. Penney and Macy&aposs are closing unprofitable stores, and Bon-Ton Stores Inc.
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The money raised from the auction will be used by Bon-Ton to repay its creditors.
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The Bon-Ton department store is scheduled to close in January, leaving another huge empty space.
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L'Oreal emerged as top bidder for the data in a July auction of Bon-Ton intellectual property.
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Several of late, like Toys R Us and department store Bon-Ton, have been forced to liquidate.
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O and Bon-Ton store closures boosted mall vacancy rates, real estate research firm Reis Inc REIS.
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That's included Toys R Us, Gymboree, Claire's, The Walking Company and Bon-Ton, to name a few.
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During the court-supervised process, Bon-Ton plans to continue operating in the normal course, it said.
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Department stores Neiman Marcus and Bon-Ton are both working with advisors to address their debt load.
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Our Bon-Ton was an everything store spread across two units of the town's best shopping center.
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ANNOUNCES LOCATIONS OF STORE CLOSURES AS PART OF STORE RATIONALIZATION PROGRAM * BON-TON STORES INC - ANNOUNCED 42 LOCATIONS THAT WILL BE CLOSED AS PART OF ITS PREVIOUSLY COMMUNICATED STORE RATIONALIZATION PROGRAM * BON-TON STORES INC - INCLUDING OTHER RECENTLY ANNOUNCED STORE CLOSURES, CO EXPECT'S TO CLOSE A TOTAL OF 47 STORES IN EARLY 2018 * BON-TON STORES INC - STORE CLOSING SALES ARE SCHEDULED TO BEGIN ON FEBRUARY 1, 2018 AND RUN FOR ABOUT 10 TO 12 WEEKS Source text for Eikon: Further company coverage:
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Kohl's has been mapping out where Bon-Ton, Toys R Us and Sears are closing stores, Revelle said.
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Bon-Ton has been seeking to cut costs and capture a bigger slice of the online shopping pie.
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Melbourne's Le Bon Ton has brought us this original recipe, which mixes the old world with the new.
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The company's stores include Carson's, Younkers, Elder-Beerman, Bergner's, Boston Store, and Herberger's, as well as Bon-Ton.
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Carson's, which was primarily located in the Midwest, also shuttered as a result of the Bon-Ton liquidation.
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Bon-Ton Stores has filed for Chapter 11 bankruptcy protection, the largest retailer to do so this year.
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The downward spiral has put Bon-Ton on several lists that speculate on possible bankruptcy filings this year.
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The group said closures from Bon-Ton and Sears Holdings accounted for much of the jump in empty storefronts.
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Bon-Ton also competes with traditional operators such as Boscov's Department Store LLC, Dillard's Inc and Von Maur Inc.
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This recipe by the guys at Melbourne's Le Bon Ton needs a day's prep time; so clear the calendar.
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Namdar's and Washington Prime's bid for Bon-Ton offers a path for the retailer to survive, three sources said.
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Firms specializing in liquidation plan to submit a $740 million offer for Bon-Ton in partnership with its bondholders.
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Bon-Ton-owned Boston Store, founded in 1897 in Milwaukee, Wisconsin, also closed its doors for good in 2018.
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The process will also make it easier for Bon-Ton to renegotiate its leases or ask for rent reductions.
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Boston Store is a major department store chain that filed bankruptcy this year, part of the Bon-Ton conglomerate.
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Bon-Ton announced the liquidation of its 260 stores last year, when it was generating roughly $2.5 billion in sales.
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For months, there's been a steady stream of store closure announcements from Sears, Bon-Ton, J.C. Penney and other retailers.
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The bankruptcies of chains like Bon-Ton, Toys R Us and Sears don't appear to benefiting others in the industry.
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Walmart's Sam's Club, Sears Holdings and Bon-Ton, for example, operate stores that take up at least 100,000 square feet.
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Department store chain Bon-Ton went bankrupt, shuttering hundreds of stores, while Sears continues to trim its real estate portfolio.
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Bon-Ton — which has dual headquarters in Milwaukee, Wisconsin, and York, Pennsylvania — has been unprofitable for the past six years.
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The main place to shop, for consumers of all ages, was a mid-priced department store chain called Bon-Ton.
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Some of the latest companies within the industry to default include Tops Markets, Bon-Ton, Charlotte Russe and Charming Charlie.
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Bon-Ton was founded in 1898 when Max Grumbacher and his father opened a one-room millinery and dry goods store.
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The jump in vacancy does not account for a number of owner-occupied Sears and Bon-Ton stores that also closed.
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With Bon-Ton, once the asset sale is approved, store closures are expected to be completed in up to 12 weeks.
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Recent examples include a bunch of retailers such as Toys R Us, Bon-Ton, and Sears, but no industry is immune.
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Bon-Ton recently missed an interest payment, and Neiman Marcus is planning to replace its CEO Karen Katz, sources told CNBC.
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Toys "R" Us and Bon-Ton, a department store chain, liquidated last summer, after failing to come up viable reorganization plans.
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NAMES MICHAEL CULHANE AS CHIEF FINANCIAL OFFICER * BON-TON STORES INC - CULHANE SUCCEEDS NANCY WALSH Source text for Eikon: Further company coverage:
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Dozens of other department stores later operated under the Younkers name, and today, the Younkers brand is owned by Bon-Ton Stores.
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Rivals like Macy's, JCPenney (JCP), and Gap (GPS) have shut stores, Bon-Ton has liquidated, and Sears (SHLD) is on life support.
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Bon-Ton, which operates other mall-based chains including Carson's, Younkers and Herberger's, is a tenant of Washington Prime's and Namdar's properties.
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In doing so, the department store chain has sparked outrage from a group of creditors that wants Bon-Ton to liquidate entirely.
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Reuters reported on Friday Bon-Ton had secured a loan that will allow it to file for bankruptcy as early as Sunday.
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Toys 'R' Us Inc and Bon-Ton Stores Inc were unable to emerge from bankruptcy proceedings and forced to liquidate last year.
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Department stores have been shrinking for years and former leaders of the sector like Sears and Bon-Ton have filed for bankruptcy.
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While many retailers reported a strong holiday season, Bon-Ton said its sales fell in November and December from a year earlier.
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Kohl's could be the biggest winner in retail as regional department store chain Bon-Ton restructures its store fleet, according to Jefferies.
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Similar to its mall-anchor peers, Bon-Ton has struggled to win shoppers online as more purchases are being made on Amazon.
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Regional department store Bon-Ton and luxury retailer Neiman Marcus are both working with restructuring advisors to address their respective debt loads.
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Regional department store chain Bon-Ton has announced the 42 locations that it will be closing next, following years of declining sales.
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However, Hudson's Bay subsequently abandoned its pursuit of Bon-Ton to focus on other opportunities and continue its revamp, according to the sources.
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The Fall/Winter 2016 collection will be available at a slew of new retailers including Macy's, Nordstrom, Dillard's, Belk, Bon-Ton and Bloomingdale's.
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Seizing the Toys 'R' Us opportunity The collapse of Sears, Toys "R" Us, and Bon-Ton is boosting the rest of the pack.
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Bon-Ton Stores Sears Holdings Claire's Stores Tops Holding BI-LO BrightHouse Group PLC Charlotte Russe Tops Holding II BI-LO Holding Finance
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Bon-Ton, which filed for bankruptcy in February with about 250 stores, is a significant tenant of both Namdar and Washington Prime malls.
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Toys "R" Us and The Bon-Ton Stores are among the retailers that shut their stores in liquidations in the last 12 months.
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Bon-Ton said Sunday it received a commitment of as much as $725 million in financing from existing lenders to support its operations.
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Flailing malls are courting gyms to replace the anchor stores like Sears and Bon-Ton that have gone bankrupt in the last few years.
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"We are currently engaged in discussions with potential investors and our debtholders on a financial restructuring plan," Bon-Ton Chief Executive Bill Tracy said.
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Regional department store chain Bon-Ton has announced the 42 locations that it will be closing next in 2018, following years of declining sales.
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But he said the retailer is expecting to benefit from a slew of rival retailers such as Bon-Ton filing for bankruptcy and shutting stores.
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Some analysts are wondering if it could be the next major retailer to head down the same path of now bankrupt Bon-Ton and Sears.
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Sears' peers, like Bon-Ton and Mervyn's, whittled away, while rivals like and poured money into their businesses to be among the ones left standing.
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York, Pennsylvania-based Bon-Ton, with 113,000 employees and 256 stores across 23 states, on Sunday sought protection from creditors owed more than $1 billion.
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As Bon-Ton heads to liquidation, the shuttering of more than 200 regional department stores jeopardizes U.S. mall owners already struggling to fill empty stores.
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In the past year, liquidation sales have happened at Bon-Ton, Toys "R" Us, Charlotte Russe, Gymboree and Payless, shaking up the lives of employees.
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Companies like Bon-Ton and Toys R Us have filed for bankruptcy in recent months, shuttering hundreds of stores across the country as a result.
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Last week, the Milwaukee Journal Sentinel reported that the websites of Bon-Ton and its subsidiary chains were giving clues that a return was imminent.
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Department store chain Bon-Ton earlier this week was forced into liquidation, after a plan to restructure the business and keep some stores open fell through.
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In the case of Bon-Ton, Washington Prime, CBL and others are looking to strike a deal with liquidators to win back control of their stores.
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Bon-Ton said it received a commitment of up to $725 million in debtor-in-possession financing from its existing ABL lenders to support its operations.
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It is possible some of the stores will be acquired by another retail operator that could reopen the stores under one of the Bon-Ton names.
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Consumers are searching for value and these companies are seizing opportunities with Sears (SHLD) and JCPenney (JCP) closures and Bon-Ton and Toys "R" Us' disappearance.
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Last but not least, Younkers said its swan song after operating for more than a century, joining its fellow Bon-Ton brands in the retail graveyard.
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Bon-Ton, which operates 256 stores in 23 states in the Northeast, Midwest and Upper Plains, said it would continue operating while it worked to reorganize.
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It went on to become one of the largest U.S. regional retail department store operators under seven banners including Bon-Ton, Younkers, Carson Pirie Scott and Bergner's.
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The closures at malls and shopping centers are piling up, with Bon-Ton, Toys R Us and other major retailers also recently going bankrupt and shutting stores.
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However, while this once made Bon-Ton a focal point and a destination for local shoppers, the internet has done much to change this dynamic, he said.
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As other department stores have fallen victim to these forces through bankruptcy or liquidations, like Sears and Bon-Ton, that business seems to have evaporated not shifted.
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Bon-Ton has said it plans to invest more in private-label brands, refreshing the overall store layout, ditching excess inventory and strengthening its e-commerce business.
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In Scottsdale and elsewhere across America, stores left vacant by retailers, including now-bankrupt Toys R Us and Bon-Ton, are being converted into shared office space.
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"The new Bon-Ton is a department store tailored to the expectations of the modern customer," Jordan Voloshin, co-president of CSC Generation, said in a statement.
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Earnings watch: It's a relatively slow week for corporate reports, but among the notable names turning in results are Pepsi (PEP), Stitch Fix, Bon-Ton and Costco.
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Those who failed or were slow to adapt — Bon-Ton, Sears, Mattress Firm and David's Bridal were among the slew of retailers that filed for bankruptcy in 2018.
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Target has also been helped by the demise of weaker competitors in the past year, including Toys 'R' Us Inc and department store operator Bon Ton Store Inc.
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On Friday, after the MDL was established, the national department store Bon-Ton filed a complaint in federal court in Chicago that will be part of the case.
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Earlier this month, Bon-Ton had received approval from its lenders to extend the deadline for submitting qualified bids, and an auction is now set for April 16.
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Some vendors that had planned inventory orders canceled as Bon-Ton prepared to file for liquidation, may end up getting their goods into the department stores after all.
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New neon-dotted Midtown joint Bon Ton Boil House was a hidden gem for about two seconds—then the local pubs wrote it up, and word got out.
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In another sign of the stress on the retail industry, Bon-Ton Stores filed for bankruptcy on Monday, becoming the latest chain store to seek Chapter 11 protection.
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While under bankruptcy protection, Bon-Ton said it will also explore strategic alternatives, including a sale of the company or assets as a part of the reorganization plan.
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Either of those options benefit Macy's, J.C. Penney and Dillard's, which have a "significant number of overlapping locations" with Sears and Bon-Ton, a Sears competitor that recently liquidated.
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But a proposal by U.S. mall owners Namdar Realty Group and Washington Prime Group Inc that would have kept open a large portion of Bon-Ton locations never materialized.
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In March, it considered acquiring Bon-Ton Stores Inc, a bankrupt retailer operating 250 department stores in 23 U.S. states, to merge it with Lord & Taylor, the sources said.
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Bon-Ton filed for Chapter 11 bankruptcy last month, marking the first filing of 2018 by a major brink-and-mortar retailer, to pursue a reorganization or potential sale.
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Also, longtime rivals Toys 'R' Us and Bon-Ton have folded and Sears filed for bankruptcy, raising the stakes for retailers to pick up market share left up for grabs.
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Its mission is simple: to help fill a sea of empty stores, as retailers and restaurant chains like Bon-Ton, Subway, GNC and Toys R Us shutter hundreds of locations.
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In a recent investor presentation, Washington Prime said that nine of its malls with Bon-Ton locations also have Sears stores, two of which are owned by Seritage Growth Properties.
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Bon-Ton on Monday updated analysts and investors on its ongoing negotiations with lenders, having recently entered into a forbearance agreement after failing to meet a deadline for debt payments.
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The U.S. subsidiary of cosmetics maker L'Oreal Group on Monday won court approval to buy beauty product customer data from bankrupt department store chain Bon-Ton Stores Inc for nearly $313,000.
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While that would be a slight sequential improvement from their $120.5 million first-quarter loss, every department store — save for J.C. Penney and Bon-Ton — is expected to post weaker results.
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There's also the fear that co-tenancy clauses will be triggered as Bon-Ton moves out, where existing tenants might have the opportunity to negotiate rents or terminate their leases entirely.
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Reports fourth quarter and fiscal 2016 results * Q4 sales fell 5.5 percent to $877.3 million * Bon-Ton stores inc - qtrly comparable store sales decreased 4.7% as compared with prior year period.
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Slightly less straightforward than your local confectionery, Haiduk's Bon Bon Bon Ton (3 Bon, 1 Ton): Balkan Outlet asked more from its prospective customers than a sugar craving and some money.
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Bon-Ton extended the deadline for bids in its bankruptcy auction last week to April 4, after announcing it was in active discussions with a bidder whom it did not identify.
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Bon-Ton, for example, shuttered all seven of its department store brands in 2018 after failing to find a buyer post-bankruptcy, sounding the alarm for peers dangling by a thread.
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Several mall-based retailers have filed for bankruptcy protection during the past few months, many of them apparel brands, including The Limited, Wet Seal, Rue21 and department store chain Bon-Ton.
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Sears, typically occupying more than 100,000 square feet for each of its stores, has contributed to a large share of closures this year, in addition to Toys R Us and Bon-Ton.
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Department store chain Bon-Ton filed for Chapter 11 bankruptcy protection in February, with the goal at the time of selling the business while it trimmed some of its real estate portfolio.
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Department stores like Bon-Ton and Ames, bookstores like Waldenbooks and Borders, and clothing stores like Wet Seal and Limited Too are among the many stores that have permanently shut their doors.
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More than 5,460 stores have closed so far this year, including 881 Toys "R" Us', 472 Sears and Kmart's, and 260 Bon-Ton department stores, according to retail think-tank Coresight Research.
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If Bon-Ton suddenly closes its doors, co-tenancy provisions could allow other retailers within the mall to renegotiate rents (now than an anchor store is gone) or terminate a lease entirely.
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While it's the end of an era for Toys R Us, the department stores Bon-Ton runs and many other retailers over the last several years, it's a big opportunity for liquidators.
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"The 2018 liquidation of Bon-Ton offers a salutary lesson regarding the market's growing impatience with troubled companies that have underinvested and executed well below better capitalized peers," Moody's analyst Christina Boni said.
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Sales have lagged behind other types of retailers such as T.J. Maxx and Target, as traffic at weaker malls has dropped off, and companies like Sears and Bon-Ton have filed for bankruptcy.
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Big brands like Toys R Us and Bon-Ton liquidating their businesses might paint a gloomy picture for the retail industry, but smaller brands say there couldn't be a better time to grow.
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U.S. mall owners Washington Prime Group and Namdar Realty Group will bid together to save department store chain Bon-Ton from liquidation, according to court documents filed Monday that were reviewed by CNBC.
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The company's portfolio also includes fragrances from celebrities such as Rihanna, Jessica Simpson and Jay Z. The Parlux fragrances are sold through regional and national department store chains, including Belk, Bon-Ton BONT.
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Across the street from Lafayette Gardens, on the corner of Franklin and Lafayette Avenues, there had been a bodega called Mary's, where Hamilton used to buy Bon Ton potato chips and Mountain Dew.
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Bon-Ton, the bankrupt retailer that shut its stores last week after being in business for over 100 years, is poised to reopen now that a new owner has scooped up its brand.
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As an example, it cited the Midland Mall in Midland, Michigan which lost a Sears, J.C. Penney and Bon-Ton owned Younkers in the span of two years, forcing it to liquidate in June.
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York, Pennsylvania-based Bon-Ton, one of the largest U.S. department store operators, became the first major brick-and-mortar retailer this year to seek bankruptcy protection from creditors owed more than $1 billion.
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"Locations of Bon-Ton's slated store closures haven't been released, but filings indicate most will be under the Bon-Ton and Carson's nameplates which span 12 states where KSS has 360+ locations," he said.
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Having lived through the carnage of leveraged retailers like Toys R Us, Bon-Ton and Belk, most are adverse to taking on too much debt, which can act as a shackle when the economy sours.
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Bon-Ton, which traces its roots to 1854, had hoped in recent days that a pair of landlords and a private equity firm would actively bid at the auction and try to save the business.
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Retailers including Ascena Retail Group, Mattress Firm, The Children's Place, Gap, J Crew and Bon-Ton are in the midst of longer-term store closure initiatives, whittling off square footage at a slightly slower pace.
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As part of its Chapter 11 filing, Bon-Ton has received $725 million in debtor-in-possession funding from existing asset based lenders, allowing it to continue stocking its shelves and pay employees during its bankruptcy.
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U.S. retail vacancies remained flat at 10.2 percent in the third quarter, while a number of Sears Holdings and Bon-Ton store closures boosted mall vacancy rates, real estate research firm Reis said in a report.
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With the disappearance of Bon-Ton, analysts said rivals such as Macy's Inc, J.C. Penney Co Inc and Kohls Corp will compete to keep longtime customers from turning to discounters like Walmart Inc or online stalwart Amazon.
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How does Dollar General thrive when so many other retailers are struggling, downsizing or, in the case of Sears, Bon-Ton, 22016 Cents Only, Neiman Marcus, Land's End, Nine West and J. Crew, are close to bankruptcy?
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A former Bon-Ton Stores Inc employee wants to lift the retailer's bankruptcy stay to pursue a harassment lawsuit stemming from menacing behavior that was inadequately addressed by the company, according to court papers filed on Tuesday.
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According to Bon-Ton lawyer Adam Levitt of DiCello Levitt & Casey (who's co-counseling with Labaton Sucharow), the store chain is by far the largest business, with the largest advertising expenditures, to enter the litigation so far.
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Many of the U.S. retailers that sell Nine West merchandise, such as department store operator Bon-Ton Stores Inc, have filed for bankruptcy or faced financial distress as online shopping has decimated foot traffic in their stores.
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Best Buy is closing its roughly 250 mobile phone stores, Foot Locker is closing more than 100 stores, while department store chain Bon-Ton filed for bankruptcy and is closing about 40 stores, to name a few.
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Many retailers that have filed for bankruptcy in recent years, including toy seller Toys R Us Inc and department store Bon-Ton Stores Inc, have liquidated after no viable offers to keep the companies open were made.
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Announces Nasdaq's withdrawal of deficiency notice * Bon-Ton stores -nasdaq has withdrawn its notification of potential delisting related to minimum market value of publicly held shares issued on march 9, 2017 Source text for Eikon: Further company coverage:
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The two companies, along with Gordon Brothers and Hilco Merchant Resources, are also running the Toys R Us liquidation sales at 735 U.S. stores, but unlike with Bon-Ton, the liquidators didn't buy the Toys R Us assets.
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Unlike Sears, which plans to remain in business, toy seller Toys "R" Us Inc and department store The Bon-Ton Stores Inc closed down last year after losing the support of debt investors or failing to find a buyer.
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"We have most of the season ahead of us, but I think the team has created a strong plan," she added, and expects to continue to benefit from store closures by other retailers such as Sears and Bon-Ton.
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Bankrupt department store chain Bon-Ton Stores Inc is seeking to block a potential bid by investors with nearly $252 million of its notes from making an offer for its assets if the company chooses to pursue a sale.
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Other publicly traded U.S. mall owners also have exposure to Bon-Ton, namely CBL Properties, which slashed its dividend earlier this year, faced with mounting capital expenses, and has created a cash reserve in case of abrupt tenant failure.
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The failure of Bon-Ton, with headquarters in York, Pennsylvania and Milwaukee, comes weeks after Toys 'R' Us began a piecemeal liquidation of its namesake stores and Babies 'R' Us, the latest sign of upheaval in the retail industry.
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It is possible some of the Bon-Ton stores will be acquired by another retail operator that could reopen the stores under one of its nameplates, but the timing and outcome of future auctions by the liquidators is still uncertain.
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Former Bon-Ton employee Ronada Vargas said in the papers she wants to pursue a jury trial against the department store chain in Ohio court for not taking appropriate action after she reported harassment by coworker Darius Love to supervisors.
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Sears' peers, like department stores Bon-Ton and Mervyn's, have gone out of business while rivals like discount retailers Walmart and Target have poured money Sears and Kmart do not have into their businesses to be among the ones left standing.
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There was also the Bon Ton Society of Washington, D.C,. and the Blue Vein Society of Nashville; you had to be light enough for someone to see the spidery veins on your wrist in order to join the latter group.
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Throughout the court-supervised asset-sale process, Bon-Ton's stores, e-commerce and mobile platforms under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates will remain open throughout the store closing sales, the company said.
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Bon-Ton, Toys R Us, Sears, Claire's and Sam's Club are just a few of the major retailers that have shut hundreds of locations altogether across the U.S. this year, leaving a glut of commercial real estate on the market.
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A subsidiary of the tech company CSC Generation Holdings told USA TODAY that it has signed a deal giving it the rights to Bon-Ton and its subsidiary department store chains, Boston Store, Bergner's, Carson's, Elder Beerman, Herberger's and Younkers.
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Sears decided to continue working with Abacus last Friday after turning down bids from competitors that have worked on some of the biggest wind-downs in recent years, including Bon-Ton Stores Inc, Toys "R" Us Inc and Sears Canada, the sources said.
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"The only blemish in the quarter was continued softness in the U.S. where mid-tier department store challenges continue to weigh upon EL's delivery," Oppenheimer & Co analyst Rupesh Parikh said, adding that the recent bankruptcy of Bon-Ton would mount further pressure.
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A joint venture of the holders of Bon-Ton's 8.0 percent second lien secured notes due 2021, Great American Group LLC and Tiger Capital Group LLC will acquire the inventory and certain other assets of the company, Bon-Ton said in a statement.
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Bon-Ton Stores, a bankrupt department store chain, will begin a going-out-of-business sale at its 200 U.S. locations in the coming days after two liquidators won an auction for the company, two sources close to the situation told Reuters on Tuesday.
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The entire sector, even top-tier mall owner Simon Property Group, has been the victim of a "retail apocalypse" narrative, where large chains like Bon-Ton, Sears Holdings and J.C. Penney are trimming their store counts across the U.S. and leaving vacant boxes behind.
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The REIT notably had 16 Bon-Ton stores in its portfolio prior to the department store chain filing for bankruptcy protection and pursuing liquidation, and Lebovitz said redevelopments of those spaces will cost as much as $90 million over the next three to four years.
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A recent wave of store closures by big-box retailers and department store chains like Sears, Toys R Us, J.C. Penney and Bon-Ton is forcing commercial landlords to pony up more cash and get creative to replace those spaces with unconventional new tenants, like Nobu hotels.
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Mall and shopping center owners across the U.S. are preparing to be hit by more store closures, following a brutal year that included department store chains like Bon-Ton and Sears going bankrupt, Toys R Us liquidating and even Walmart shutting dozens of its club stores.
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York, Pennsylvania-based Bon-Ton, which traces its roots to 1854, had 23,000 employees and 256 stores across 23 states when it filed for Chapter 11 bankruptcy in February with the hope of cutting debt and emerging from a brutal retail landscape under a new owner.
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Macy's, like rivals Nordstrom and Kohl's, is trying new things in stores to avoid the same fate as department store chains like Bon-Ton, Sears and J.C. Penney, which have either been forced to file for bankruptcy protection or are struggling more than the rest to keep afloat.
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S. BANKRUPTCY COURT APPROVED ALL OF CO'S FIRST DAY MOTIONS RELATED TO VOLUNTARY PETITIONS FOR CHAPTER 11 FINANCIAL RESTRUCTURING * BON-TON STORES -COLLECTIVELY,APPROVALS AT HEARING ON FEB 6 WILL SUPPORT CO'S BUSINESS,ENABLE CO TO MEET FINANCIAL OBLIGATIONS THROUGHOUT RESTRUCTURING Source text for Eikon: Further company coverage:
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The mall is the new rec center An executive at mall owner Washington Prime Group (WPG) was exceptionally blunt in a recent earnings release, using a choice word to refer to such bankrupt retailers as Bon-Ton Stores, Sears, Toys R Us, Charlotte Russe, Gymboree, and Payless ShoeSource.
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"We are pleased to have received this signed letter of intent and are advancing our discussions with the investor group to complete an asset purchase agreement as we proceed toward the court-supervised auction," Bon-Ton CEO Bill Tracy said Monday in a statement about Washington Prime, Namdar and DW Partners.
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To look at how Southern BBQ has permeated the Aussie food scene, we head along to Le Bon Ton and Fancy Hank's in Melbourne, and LP's Quality Meats in Sydney, to meet their chefs, learn their secrets, and see the spins they're putting on what has become an American artform.
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Among Moody's rated retail and apparel issuers with debt ratings of 'Caa' or lower (which represents anywhere from "substantial risk" to the potential for total default on a bond) are kid's accessories chain Claire's Stores, apparel retailers J Crew and Charlotte Russe, department store chain Bon-Ton Stores and grocer Bi-Lo.
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By focusing on e-commerce, and making plans to reinvent its physical stores with personal styling services and extended hours on the days when more people might be inclined to shop, Bon-Ton is attempting to be more competitive in a retail environment transformed by Amazon and fast-fashion chains like Zara.
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Already this year, Toys R Us is planning to close all of its 800-plus stores across the U.S., Sears is closing 103 stores, Walmart's Sam's Club division is closing 63 stores, Bon-Ton is closing 42 stores, Macy's is closing 11 stores, J.C. Penney is closing 8 stores and Nordstrom is closing one store.
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"In the past we would be very, very focused on that (retail experience), but now we are willing to look at people who have good customer service and understand what customer service is, over somebody who has previous retail experience," said Denise Domian, senior vice-president of human resources at Bon-Ton Stores Inc, a department store chain.
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Allen Questrom, former CEO of J.C. Penney, told "Squawk Box" that store closures around the country have been a "big, big plus" for larger retailers, not just in the shifting toy space but also in apparel, where closings of smaller department stores such as Bon-Ton are giving operators such as Macy's — which has also been reducing its store count — a boost.
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Bon-Ton is headed to liquidation, and more than 200 stores will be put on the chopping block as the business winds down and vacates malls across the U.S. The department store chain, which also owns banners Carson's, Younkers and Elder-Beerman, was forced into filing for bankruptcy protection earlier this year, weighed down by a burgeoning debt load and struggling to compete online with the likes of Amazon and Walmart.
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