License Global
April 19, 2018
The Bon Ton Stores has revealed that the U.S. Bankruptcy Court for the District of Delaware has approved an asset purchase agreement and will begin closing down its remaining stores.
Under the approved agreement, a joint venture group comprised of the holders of the company’s 8 percent second lien secured notes due 2021, Great American Group and Tiger Capital Group, will acquire the inventory and select assets from Bon Ton Stores.
The company is currently orchestrating a winding-down of operations for Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers; however, the company’s stores, e-commerce and mobile platforms will remain open throughout the store closing sales.
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