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The Bon-Ton May Be Next Oakdale Mall Store to Close

The Bon-Ton May Be Next Oakdale Mall Store to Closeā€¯

Boston Store, for example, was founded in 1897, and Younkers in 1856. The chain, which has dual headquarters in York County and Milwaukee, filed for bankruptcy in February.

As of late Monday, the auction had not concluded, according to four sources who spoke to Reuters.

The Bon-Ton's parent company, which has corporate offices in Pennsylvania and Wisconsin, operates more than 250 stores under several nameplates.

Before the auction, Bon-Ton was trying to find a buyer so it could keep some of its stores open but that option failed.

Money from the auction will be used to pay Bon-Ton's creditors. That announcement also included eight other stores around the state, including the Elder-Beerman in Beloit. The news service noted that once the company selects a winning bidder and the federal court overseeing Bon-Ton's bankruptcy proceedings approves it, "the liquidator can begin selling the inventory, store leases, fixtures and intellectual property". Monday, a court supervised auction only drew bids from two liquidators.

Losing Younkers will be a major blow to Southbridge Mall, where the retailer has operated as a 50,000-square foot anchor tenant for more than three decades.

Among those in the Westdale Mall location in Cedar Rapids, that was announced earlier this year.

Bon-Ton has stores in the Eastern Hills Mall, McKinley Mall, Chautauqua Mall, Olean Center Mall and the former Summit Mall, as well as in West Seneca, the Town of Tonawanda and Lockport. Toys "R" Us announced in March that it was going out of business, although a toy mogul has launched a bid to try to buy 275 of the chain's more than 700 USA locations.



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