MILWAUKEE, April 19, 2018 /PRNewswire/ -- The Bon-Ton
Stores, Inc. today announced that going out of business sales will
begin Friday, April 20, 2018, in 212
stores and e-commerce websites under the Bon-Ton, Bergner's, Boston
Store, Carson's, Elder-Beerman, Herberger's and Younkers
nameplates.
The Company's stores, e-commerce and mobile platforms are open
and serving customers. The liquidation sales are expected to run
for approximately 10 to 12 weeks. Bon-Ton currently has 250 stores,
38 of which are already in liquidation from a previously announced
store closure process.
On April 18, 2018, the U.S.
Bankruptcy Court for the District of Delaware approved an agreement between the
Company and a joint venture composed of the holders of the
Company's 8.0% Second Lien Secured Notes due 2021 and Great
American Group, LLC and Tiger Capital Group, LLC governing the
liquidation of the inventory and certain other assets of the
Company.
Additional customer information regarding the going out of
business sales is available on the Company's restructuring website
at bontonrestructuring.com.
A complete store listing can be found at stores.bonton.com.
Additional Information
Court filings and other documents related to the
court-supervised process are available at
https://cases.primeclerk.com/bonton or by calling the Company's
claims agent, Prime Clerk, at (844) 253-1011 (toll-free in the
U.S.) or (347) 338-6537 (for parties outside the U.S.).
About The Bon-Ton Stores, Inc.
The Bon-Ton
Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 250 stores,
which includes nine furniture galleries, in 23 states in the
Northeast, Midwest and upper Great Plains under the Bon-Ton,
Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and
Younkers nameplates. The stores offer a broad assortment of
national and private brand fashion apparel and accessories for
women, men and children, as well as cosmetics and home
furnishings. The Bon-Ton Stores, Inc. is an active and
positive participant in the communities it serves. For
further information, please visit
http://investors.bonton.com.
Cautionary Note Regarding Forward-Looking
Statements
Certain information included in this release and in other
communications made by the Company contain statements that are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking
statements, which may be identified by words such as "may,"
"could," "will," "plan," "expect," "anticipate," "believe,"
"estimate," "project," "intend," or other similar expressions,
involve important risks and uncertainties that could significantly
cause future results to differ from those expressed in any
forward-looking statements. Factors that could cause such
differences include, but are not limited to: risks related to
retail businesses generally; deterioration of general economic
conditions; potential increases in pension obligations; consumer
spending patterns, debt levels, and the availability and cost of
consumer credit; additional competition from existing and new
competitors or changes in the competitive environment; changes in
energy and transportation costs; weather conditions that could
negatively impact sales; the ability to attract and retain
qualified management; the dependence upon relationships with
vendors and their factors; a data security breach or system
failure; the ability to reduce or control SG&A expenses;
operational disruptions; unsuccessful marketing initiatives; the
ability to improve efficiency through the Company's eCommerce
fulfillment center; changes in, or the failure to successfully
implement, our key strategies, including the store rationalization
program and initiatives to improve our merchandising, marketing and
operations; adverse outcomes in litigation; the ability to obtain
financing for working capital, capital expenditures and general
corporate purposes; the impact of regulatory requirements; the
financial condition of mall operators; and the uncertainties
relating to the bankruptcy filing by the Company Additional factors
that could cause the Company's actual results to differ from those
contained in these forward-looking statements are discussed in
greater detail under Item 1A of the Company's Annual Report on Form
10-K for fiscal 2017 and subsequent filings with the Securities and
Exchange Commission. Forward-looking statements made by the Company
in this release, or elsewhere, speak only as of the date on which
the statements were made. We undertake no obligation to publicly
update or revise any forward-looking statement as a result of new
information, future events or otherwise, except as otherwise
required by law.
MEDIA CONTACT:
Christine Hojnacki, 414-347-5329
christine.hojnacki@bonton.com
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SOURCE The Bon-Ton Stores, Inc.